“We believe our customers want access to good value, high quality products which they can buy in a way which is most convenient to them.”
Kate Avery, Group Executive Director (Wealth Management)
“We believe that today’s world is epitomised by change, whether that be in our careers or our family lives. And that means our products need to be more flexible than ever. We believe very few people now regard their job as being there for life with a generous company pension scheme on retirement.
At the heart of our strategy is providing a choice of how customers wish to purchase our products…
At the end of the day, we know that our job is to act as a steward of our customers’ money, making it possible for them to make important financial decisions in the knowledge that they are working with a reliable, secure long term partner.”
First Maturing Share Schemes SIPP Plan for UK FTSE 100 Company
GlaxoSmithKline became the first UK FTSE 100 Company to offer employees a group self-invested personal pension (SIPP) designed to provide self investment of long term employer-sponsored saving initiatives such as share incentive plans, SAYE share schemes or other approved share arrangements. The Legal & General plan which sits alongside employees existing pension arrangements also has the potential to provide employees with additional opportunities to save for retirement through bonus sacrifice, a wider range of investment funds, and the significant tax savings offered by SIPPs. Other large employers are expected to follow suit.
Cofunds Relationship Strengthened
Legal & General and Cofunds have extended their distribution relationship to 2013. This follows the on platform launch of an international bond from Legal & General’s life company in the Republic of Ireland, and a funds only self-invested personal pension broadening the product offering which Cofunds provides to the UK IFA market.
Enabling Rapid Returns to Work
Group Protection’s fast-paced approach to getting customer companies’ employees fit to return to work after periods of ill-health has shortened periods of absence and reduced claims. A notable success from our approach of early intervention and expert medical outsourcing has been the reduction in the average employee absence period for mental health problems from 54 to 28 months in companies using our Group Income Protection policies.
