Towers Watson has appointed PwC as auditor for LifeSight, its DC master trust for the UK market. The appointment, which takes effect immediately, has been made to ensure that LifeSight complies with the ICAEW master trust assurance framework.
LifeSight is Towers Watson’s independently managed and fully outsourced UK DC pension and long-term saving solution. The solution provides pensions expertise that gives its members a “personalised cost-effective experience to improve outcome.”
In line with industry best practice and to ensure the trust observes the independent master trust assurance framework outlined by the Institute of Chartered Accountants of England and Wales (ICAEW), HR consulting firm Towers Watson appointed PwC as auditor for LifeSight. According to Towers Watson, it has chosen for PwC for its expertise in specific master trust regulation and approach to audit and assurance reporting.
Russell Picot, Chair of LifeSight’s Audit and Risk Committee, explains: “The appointment of PwC, with all its expertise in this area, shows our commitment to achieving ICAEW’s independent master trust assurance. We were impressed with PwC's thorough understanding of the industry, their commitment to outstanding client service as well as the strength of their approach to the audit and assurance reporting”
Felicity Rees, Partner at PwC, adds: “LifeSight is a compelling long-term savings and DC pensions solution with huge potential to help employers meet the needs of this rapidly changing landscape. We’re delighted to be involved in such an exciting new venture.”