SocGen picks DC master trust

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French investment bank Société Générale has moved about 4,500 UK defined contribution members and £385m worth of pension assets to the Aegon Master Trust. 
The master trust went live for SocGen employees during 2021 for future service. The bulk transfer was undertaken in a series of three tranches over a two-week period and overseen by consulting firm Isio. 
“One of the key aspects that attracted us to the Aegon Master Trust was the intuitive app and video summaries which allow employees to keep up to date with their savings. The changes have been well received and have helped put pensions front of mind among employees,” said Graham Clark, head of benefits at SocGen, about the appointment.
Linda Whorlow, managing director of workplace business at Aegon, said the firm had invested heavily in its master trust proposition over the past few years, especially in member tools and guidance. 
Aegon’s LifePath default fund was also in focus, she added, as it “has seen a significant increase in the proportion of funds invested in ESG strategies”.

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