2nd June 2021
Cushon acquires Workers Pension Trust
Cushon, a workplace savings fintech, has acquired the scheme funder of the Workers Pension Trust (WPT). Sophie Colloby of Dow Schofield Watts Transaction Service’s team in Leeds provided financial due diligence to Cushon on the deal.
Construction First Limited – the scheme funder of the WPT is the leading auto-enrolment master trust across Northern Ireland with around 5,000 employers and more than 110,000 employees with pension investments of around £330m.
The WPT deal brings Cushon’s overall assets under management to £740m and total number of members to over 200,000. The fintech is now also the sixth-largest master trust by number of employers managed.