LifeSight, the defined contribution master trust owned by Data analysts WTW, has partnered with Octopus Money to provide one-to-one money guidance for its members to support their financial wellbeing.
They will receive support tailored to their personal circumstances, as well as access to group webinars and other resources to support longer-term Financial Planning.
The one-to-one support will allow LifeSight members to talk with an expert about their personal money questions; understand what wider financial conditions mean for their specific circumstances and budgets; provide options and reassurance to take the right actions; and help people plan for the future through forecasting and setting achievable goals.
Stewart Patterson, head of product strategy for LifeSight, said: “People all across the country are feeling the pressure of the rising cost of living and many are trying to work out how to manage the impact of these wider economic issues on their own personal finances, both now and in the years to come.
“The pensions industry has a big role to play in this process, but has too often tripped over itself with complicated communications and reliance on industry jargon. LifeSight set out from the start to communicate with its members in an accessible and easy to understand way, helping members understand their retirement savings, wider finances and the options available to them.”
“We understand the financial pressures that people are facing at the moment and are working hard to equip our members with the knowledge and tools they need to navigate difficult times. Ultimately we want to support members to make good money decisions and we have been hard at work building our tailored financial wellbeing support in recent years to do exactly this” said Patterson.
LifeSight is WTW’s master trust, a defined contribution multi-employer pension trust for employers who would benefit from high-quality, low-risk, market-competitive pension provision without the governance burden.