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Workers Pension
Workers Pension Trust launched in 2012 as a multi-employer pension scheme backed by the Construction Employers Federation (CEF), the trade association for...
Workers Pension
Workers Pension Trust launched in 2012 as a multi-employer pension scheme backed by the Construction Employers Federation (CEF), the trade association for Northern Ireland's building sector. The trust was purpose-built for auto-enrolment compliance, serving companies of all sizes across the United Kingdom from its administrative base in Belfast. The scheme provides a defined contribution master trust structure for employers. Its investment strategy is delivered through the Cushon Master Trust, reflecting the trust's 2021 acquisition by Cushon Group Limited — a fintech platform that originates workplace pensions and ISAs. This integration shifted the trust's posture from a standalone industry fund to a constituent vehicle within a technology-enabled retirement platform. The geographic footprint concentrates on UK employers, particularly those with roots in Northern Ireland's construction and allied trades. Professional oversight is led by Managing Director Declan McErlean, who also serves in the same role at Construction First Limited. Governance is shared with Roger Mattingly, who chairs the Cushon Master Trust and acts as co-trustee for Workers Pension Trust. The trust maintains institutional affiliations through long-standing membership in the Pensions and Lifetime Savings Association (PLSA), and its staff contribute to the Pensions Management Institute (PMI) Master Trust Working Group. In September 2023, FCA-regulated Cushon expanded its commercial pipeline through a partnership with a major UK bank to distribute workplace pensions to small businesses — extending the distribution reach of the underlying master trust (per Altfi, September 2023). The trust's structure as an acquired, industry-originated vehicle operating inside a regulated fintech platform distinguishes it from a typical single-sponsor pension fund. Succession and governance are tied to the Cushon Master Trust board, creating a layered fiduciary model where the CEF's founding mission intersects with Cushon's commercial scaling strategy.
General information
Firm type
Pension Fund
Year founded
2012
Location
Region
Europe
Country
United Kingdom
City
Belfast
Corporate office
Belfast, Northern Ireland, United Kingdom
Principals
Declan McErlean
Managing Director
Roger Mattingly
Chair of the Cushon Master Trust and co-trustee
Sector focus
Frequently asked questions
How is Workers Pension Trust related to Cushon Group?
Cushon Group Limited acquired Workers Pension Trust in 2021. The trust now operates as a constituent master trust vehicle within Cushon's regulated fintech platform, which also offers ISAs and other workplace savings products. Roger Mattingly chairs the Cushon Master Trust and serves as co-trustee of Workers Pension Trust, providing governance linkage between the entities.
Who originally founded Workers Pension Trust and why?
The Construction Employers Federation (CEF), the trade association for the Northern Ireland construction industry, founded Workers Pension Trust in 2012. The trust was created to offer an auto-enrolment-compliant defined contribution pension scheme specifically for companies in the construction sector and adjacent trades across the UK.
Who runs investment decisions at the trust?
Investment oversight falls under the Cushon Master Trust governance structure, chaired by Roger Mattingly. Managing Director Declan McErlean runs the Workers Pension Trust entity itself. The trust does not operate a separate internal investment committee; its assets are invested through the Cushon Master Trust's default and self-select fund range.
Is Workers Pension Trust a single-family office or a pension fund?
It is a defined contribution multi-employer pension fund structured as a master trust. It was founded as an industry-specific scheme for the construction trades and acquired in 2021 by the fintech platform Cushon Group. It has never operated as a family office.
What is the trust's known posture on selecting external fund managers?
The trust's investment strategy is delivered through the Cushon Master Trust platform. Cushon designs its own default lifestyle strategies and self-select fund ranges, which include externally managed funds. The trust itself does not directly tender for or appoint external managers independently of the Cushon Master Trust investment governance process.
What role does the Construction Employers Federation still play in the trust?
The CEF founded the trust and its legacy shapes the trust's core employer demographic, particularly in Northern Ireland. Post-acquisition by Cushon Group, the CEF no longer has an ownership or direct governance role, though the trust maintains its historical identity serving construction sector employers.
Which industries does the trust primarily serve?
The trust was built for the construction industry and its supply chain, originating from the CEF membership base. Since its acquisition by Cushon, the scheme is marketed to UK employers of all sizes across all sectors, though it retains strong historical penetration in Northern Ireland's building trades.
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