Legal & General Group Plc - LGIM launches Auto- Enrolment Online Solution for SMEs
Legal & General Investment Management Launches Auto- Enrolment Online Solution for SMEs.
Legal & General Investment Management Workplace Savings has announced the launch of an online Auto Enrolment facility for small and medium sized employers (SMEs).
Online scheme set up is free of charges. The current set up charge (£1,000) will not apply for any new scheme set up.
Applicants can set up their scheme in less than 30 minutes and it should be fully live within 24 hours.
Jim Islam, LGIM Chief Operating Officer, Client Operations said: “With tens of thousands of SMEs reaching their staging dates over the next few years, there’s huge need for a straightforward, self-service online solution so they can set up their scheme quickly and easily.”
“Schemes joining our workplace platform only pay 50bps for our default auto-enrolment multi asset fund. I believe this package in conjunction with our new online system is a compelling proposition for SMEs implementing auto-enrolment.”
At the end of Q3 the LGIM Workplace platform included 1.156 million employees across 2,159 schemes with AUA up 28% to £10.1bn (Q3 2013: £7.9bn). The number of newly Auto Enrolled members in the Legal & General platform was over 1 million members by 30 September 2014.
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For further information, please contact:
Name: Mike Connolly
Title: PR Manager
Tel: 01737 375365 (mobile 07802 503917)
Notes to editors:
LEGAL & GENERAL INVESTMENT MANAGEMENT:
Legal & General Investment Management (LGIM) is one of Europe’s largest institutional asset managers and a major global investor. LGIM manages £676.3 billion in total assets for more than 3,000 clients*. Throughout the past 40 years we have built our business through understanding what matters most to our clients and transforming this insight into valuable, accessible investment products and solutions. We provide investment expertise across a full spectrum of asset classes including equities, fixed income, commercial property and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.
*As at 30 September 2014
Legal & General Workplace Platform:
The Workplace Platform was named Auto Enrolment Provider of the Year by the FT Pensions and Investment Provider Awards for the last two years running (2013 and 2014), Corporate Platform/Wrap Provider of the Year in the UK Pensions Awards (2013) and Workplace Savings Provider of the Year in the Workplace Savings and Benefits Awards (2013).