16 Jun 2020
L&G switches on new pensions portal for 3.7 million people
- 3.7 million members of L&G-pension schemes are now eligible to register for enhanced pensions portal ‘Manage Your Account’.
- New portal anticipates future technologies including the Pensions Dashboard.
- Infrastructure has proven resilient to traffic spikes of up to 75% more than average during Covid-19 lockdown and pension benefits statement season.
Legal & General (L&G) today announces the release of its enhanced secure pensions portal ‘Manage Your Account’, successfully switched on for the use of 3.7 million eligible defined contribution scheme members across the UK.
In addition to simpler navigation and an enhanced design, the portal has been enriched with a series of new features.
Individual members of L&G pension schemes will now be able to:
- Access their pension at anytime, anywhere, on any device
- Access fund fact sheets and breakdowns of lifestyle profiles
- Compare, choose and invest in funds – or redirect their future contributions
- Plan for the future using L&G’s new interactive ‘Retirement Planning Tool’
- Get simplified pension statements and other documents in one click from the home page
- Log in more quickly and easily using enhanced security features such as one time passcodes
- Get rapid support from L&G if needed through our new virtual assistant or our secure messaging facility
Over the last year, a dedicated team has worked to incorporate ideas and feedback from members, making the portal accessible for all and improving the customer experience.
Having this new technology in place allows Legal & General greater flexibility and lays the foundations for future developments, such as anticipating requirements for Pensions Dashboard.
To date the new ‘Manage Your Account’ has been rolled out to more than 16,000 pension schemes, representing 3.7 million individual members across the UK who are eligible to register.
As of Thursday 11th June 2020 a total of 1,058,890 million members have already registered and logged-in to make use of the new portal.
Traffic spikes during Covid-19 Lockdown:
Ahead of the upgraded functionality, the portal’s essential infrastructure has already proved its resilience during testing times, serving up to 75% more unique visitors at peak times than the pre-lockdown average.
The extra demand came from members wanting to view and review their pension account, and latest benefit statements during the recent period of market turmoil.
Recent events have only underlined why the pensions industry must invest in cutting-edge technology to better serve scheme members – via the channel each individual finds easiest.
This portal is a significant piece of new infrastructure for a ‘lockdown’ UK – and has been completed by our teams who themselves are also operating and collaborating remotely. In a time when financial security is more important than ever, the new portal allows members to view their pension details safely, whenever they need to.
Investments we’ve made in new infrastructure behind the scenes of the new portal will boost L&G’s ability to deliver new tools, services and technologies well into the future.
Head of Defined Contribution at L&G
Notes to editors
Legal & General Investment Management:
Legal & General Investment Management is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.2 trillion. We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
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 the full spectrum of asset classes including fixed income, equities, commercial property and cash. Our capabilities range from index-tracking and active strategies to liquidity management and liability-based risk management solutions.
1LGIM internal data as at 30 December 2019. These figures include assets managed by LGIMA, an SEC Registered Investment Advisor. Data includes derivative positions.