Commenting on the Cushon purchase of Creative Pension Trust, Michael Ambery, Partner, Hymans Robertson says:

“The announcement about Cushon’s purchase of Creative is great news, and indication of a very busy Workplace Savings market in 2022. This is the first headline consolidation of Master Trust providers this year, and highlights a market that is moving in this direction. We believe this acquisition will provide real value for members.

“It is hugely important in a changing market to be aware of consolidation and the impact this will have on our industry, not least what this means for the selection and reviewing of providers. Today’s announcement is in many ways a logical one, and sends a positive messages to consumers and the market itself. A clear focus on technology, sustainable investment and the heightened importance of value are strong principles of this transaction. This further reflects the workplace provider market evolution, and the importance of adapting to customer needs. We believe further consolidation is likely in the coming months.”