Q2 '25 UK Master Trust: Release of the latest DC Master Trust figures
- Dion Zeka

- Jun 1, 2025
- 1 min read
In this blog, we will explore the upcoming release of the 2025 Q2 Assets Under Management (AUMs) and membership updates with the Defined Contribution (DC) Master Trust providers. Our goal is to provide valuable insights and highlight the significant acceleration we are witnessing in the consolidation of fragmented DC assets. As the financial landscape evolves, understanding these trends is crucial for navigating the complexities of asset management.
In the dynamic world of financial markets, volatility remains a constant challenge for both financial professionals and retail investors. Market fluctuations, economic uncertainties, and geopolitical events all contribute to this volatility, presenting both challenges and opportunities for those engaged in the financial sector.
Master Trust | Assets | Members |
Aegon | £5,233,000,000 | 186.6K |
Aon Master Trust | £6,500,000,000 | 180.0K |
Aviva Master Trust | £13,443,798,208 | 537.6K |
Cheviot * | £156,300,000 | 5.0K |
NatWest Cushon | £2,858,793,000 | 611.9K |
Fidelity Master Trust | £10,600,000,000 | 199.7K |
Legal and General | £29,853,619,128 | 1,954.3K |
LifeSight | £23,000,000,000 | 430.0K |
Mercer Mastertrust | £8,350,000,000 | 279.0K |
Nest | £48,100,000,000 | 13,700.0K |
NOW: Pensions | £5,648,524,241 | 2,471.7K |
Options * | £400,000,000 | 240.0K |
Scottish Widows | £3,441,000,000 | 150.8K |
The SEI Master Trust | £4,000,000,000 | 210.0K |
Smart Pension | £6,547,000,000 | 1,519.0K |
Standard Life | £11,247,969,728 | 311.7K |
The Lewis Workplace Pensions Trust | £100,000,000 | 16.6K |
The Peoples Pension | £32,000,000,000 | 6,800.0K |
TPT Retirement Solutions | £3,800,000,000 | 372.5K |
SOURCE:
Various Quarterly Reports and Chairmen Statement Reports published from master trust providers

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