WTW completes acquisition of Cushon, consolidating its position as 4th largest master trust provider in the U.K.

LONDON, May 05, 2026 (GLOBE NEWSWIRE) -- WTW (NASDAQ:WTW), a leading global advisory, broking and solutions company today announced it has completed the acquisition of the workplace pension and savings provider Cushon, following regulatory approval from the Financial Conduct Authority (FCA).

The transaction strengthens WTW’s position in the U.K. defined contribution (DC) workplace pensions market, where its LifeSight master trust is the fourth largest. The addition of the Cushon Master Trust to WTW’s portfolio results in WTW now managing more than £30 billion of master trust assets on behalf of 1.2 million members.

Cushon will complement LifeSight and expand WTW’s master trust reach across all market segments. LifeSight will continue to focus on large companies and Cushon will enable growth in the middle market.

A referral agreement with NatWest Group remains in place, ensuring Cushon continues to provide NatWest’s corporate clients with seamless access to its workplace pension solutions.

The acquisition reflects ongoing evolution in the DC market, as providers seek greater scale, efficiency and investment capability to enhance member outcomes. By combining complementary strengths, WTW and Cushon are positioned to deliver improved governance, innovation and long-term value for employers and savers.

About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organisations sharpen their strategy, enhance organisational resilience, motivate their workforce and maximise performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
Learn more at wtwco.com.

About Cushon
Cushon (formerly trading as NatWest Cushon) is a UK-based workplace pensions and savings provider dedicated to helping people build a better financial future through smart, engaging technology.

Cushon provides pension and savings products through an intuitive mobile app that delivers a personalised experience, making it simple for customers to manage their money and invest in line with their goals and values.

Integrating seamlessly with payroll and benefits platforms, Cushon delivers its products through the workplace to reach as many savers as possible. Nearly 20,000 employers and 755,000 savers currently use Cushon, with £4.2bn assets under management. By offering a straightforward way to save into pensions, ISAs and other products directly from pay, Cushon helps employers enhance the financial wellbeing of their workforce.

For more information, please visit cushon.co.uk.

Media contact
WTW
Jamie Kilduff
+44 (0)20 7170 3746
jamie.kilduff@wtwco.com

WTW Forward-Looking Statements
This document contains ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. You can identify these statements and other forward-looking statements by words such as ‘may’, ‘will’, ‘would’, ‘commit’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘plan’, ‘continues’, ‘seek’, ‘target’, ‘goal’, ‘focus’, ‘probably’, or similar words, expressions or the negative of such terms or other comparable terminology. These forward-looking statements include, but are not limited to, our agreement to acquire Cushon (the “Transaction”), expectations relating to the Transaction or the potential benefits or consequences of the Transaction, information about possible or assumed future results of our operations including without limitation results of the acquired business and potential synergy opportunities, the anticipated timeline for the completion of the Transaction and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. All forward-looking disclosure is speculative by its nature.

There are important risks, uncertainties, events and factors that could cause our actual results or performance to differ materially from those in the forward-looking statements contained in this document, including the following: our ability to effectively integrate Cushon into our business and operations; our ability to achieve the expected results of the Transaction; our ability to execute on our strategy, optimize our portfolio, accelerate performance or enhance efficiency; our ability to deliver substantial value to our stakeholders; changes in general economic, business and political conditions, including changes in the financial markets; significant competition in the marketplace; and compliance with extensive government regulation. Factors also include those described under Part I, Item 1A in our Annual Report on Form 10-K, and our subsequent filings with the SEC. Copies are available online at http://www.sec.gov or www.wtwco.com. The foregoing list of factors is not exhaustive and new factors may emerge from time to time that could also affect actual performance and results.

Although we believe that the assumptions underlying our forward-looking statements are reasonable, any of these assumptions, and therefore also the forward-looking statements based on these assumptions, could themselves prove to be inaccurate. Given the significant uncertainties inherent in the forward-looking statements included in this document, our inclusion of this information is not a representation or guarantee by us that our objectives and plans will be achieved.

Our forward-looking statements speak only as of the date made and we will not update these forward-looking statements unless the securities laws require us to do so. With regard to these risks, uncertainties and assumptions, the forward-looking events discussed in this document may not occur, and we caution you against unduly relying on these forward-looking statements.

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