18 May 2016

New launch - Workplace Savings

With the introduction of the Government's new tapered pension annual allowance, your clients employees may be thinking about how they can divert money that would have otherwise been saved into their pension pots, into an alternative savings vehicle.

We've enhanced our saving solutions to provide your clients with an opportunity to invest in 'Workplace Savings', a range of competitively low-charged collective investment funds.

Workplace Savings is available to employers that have either already established or, are in the process of implementing their workplace pension scheme with us. Both employees and their spouse/registered civil partners can take advantage of the offer.

Our collective investment funds are competitively low-charged, and are offered free from any platform charge or setup fees.

With online access, workplace savings investments can be viewed alongside any other Legal & General policies held by their employees, including their pension plan, however they do not need to be an active member of the pension scheme to apply.

With the choice to invest a lump sum and/or regular direct debit, contributions can be paid in to the funds directly, through an ISA or a combination of the two.

Whether employees are new to investing or looking to grow their portfolio, we can help. With generations of investment experience behind us, we understand what's important.

At a glance:

  • No set-up charges or platform fees.
  • Competitively low-charged funds.
  • Invest directly or through an ISA - maximising the tax-efficient return and potential growth on investments.
  • Minimum investment from £50 per month by direct debit and/or with a lump sum of at least £500.
  • Employees and their spouse/registered civil partners can apply, helping to achieve savings goals more quickly together.
  • Online access to view workplace savings investments alongside any other Legal & General policies that might be held.
  • ISA transfers from other providers are also available to allow your employees to make the most of the offering.

Further changes have now been announced to the ISA savings regime with the launch in 2017 of the Lifetime ISA. We will be developing new propositions during the next 12 months and we will send you details as soon as they are available.

If Workplace Savings may be of interest to your clients, please contact your usual Legal & General contact for more information

  • Please remember the value of investments and any income from it may fall as well as rise and is not guaranteed.
  • Customers may get back less than they invest.
  • Recommended investment period: medium to long term, ideally five years or more.
  • The tax efficiency of ISAs is based on current rules. The current tax situation may not be maintained. The benefit of the tax treatment depends on individual circumstances.