The fund, run by Westmorland and Furness Council and part of the Local Government Pension Scheme, was named as one of four finalists for small fund of the year.
As a Living Pension employer, Commsave will offer this pension savings level to all directly employed staff, no matter their age or earnings.
Patrick Heath-Lay said: “This is an extremely significant moment – a milestone we are very proud of and a great example of what a pension with purpose looks like."
From July 2024 to July 2025, 181,100 pension credit claims were cleared and awarded, up 46% or 57,200 compared to the previous year.
Wesleyan’s survey found over half (52%) would consider phased retirement, but 43% were put off by worries about affordability.
Zoe Alexander said: “The best way of ensuring good returns for members is for investments to be undertaken on a voluntary, not mandatory basis.”
Aon advised the trustees on the deal, leading the transaction, with legal support from HSF Kramer.
The FCA worked with partners to clarify how employers can stay within national minimum wage rules and how providers can meet financial promotions requirements.
Gaucho Rasmussen said: “This case illustrates our commitment to protecting members and targeting our actions to have the most impact."
Clare Moffat said: “A rise in large lump-sum withdrawals will likely mean an even greater spike in emergency taxes on those withdrawals."
Among adults aged 25 to 34, 18% said they had already withdrawn money from their pension to invest in crypto.
The firm said that companies that take action now can avoid being caught out by changes to the retirement system.