The Trustees of the Cushon Master Trust have reviewed the default investment strategy for workplace pensions that were migrated from Workers Pension to Cushon Master Trust in 2024. From March 2025, a new investment approach called the Cushon Sustainable Investment Strategy has been adopted.
How will the Cushon Sustainable Investment Strategy invest your money?
This strategy aims to positively impact your retirement outcomes, the climate, and society. It includes a mix of different investments, including:
- Global equities aligned with the UN Sustainable Investment Goals
- Climate-focused bonds
- Private market investments to support economic growth
Our advisors frequently review the strategy to consider new investments that provide additional advantages and opportunities to grow your pension pot. You can learn more about how your money will be invested here.
How does the Cushon Sustainable Investment Strategy work?
Your money will be invested based on your age and will automatically adjust as you grow older. In your younger years, your money will be invested to maximise growth potential through investments returns. Then, starting seven years prior to your target age - the age you might want to access your money - your investments will gradually adjust with the aim of reducing the risk of significant ups and downs in your pension's value.
In the seven years before your target age, you can choose from three lifestyle options based on how you intend to use your money.
You can set your target retirement age at any time using the Cushon app. If you do not set a target age, we will assume it to be age 65. If your plans change, you can update your target age at any time.
How does this change the costs of your workplace pension?
Until now, members who have joined from Workers Pension have paid a range of different charges. These have varied according to whether you are paying in regularly or not, and whether you were a member of the Enhance scheme, which became part of Workers Pension in 2018.
Having conducted a review of charges, we have concluded that it is fairer and more transparent to introduce a single approach to charges for all members who have joined from Workers Pension. This decision has been made because we expect the Cushon Sustainable Investment Strategy to be more effective in delivering long-term investment returns to grow your money.
Our cost-benefit analysis also indicates that most member groups will pay less than they do today.
What are the costs of the Cushon Sustainable Investment Strategy?
There will be two charges for your workplace pension after these changes are made - a platform charge of 0.54% and a fund management charge for the Cushon Sustainable Investment Strategy of 0.15%. In total, this means you will pay 0.69% of your total savings in charges each year, which are collected automatically each month.