Flow

Our tailored solution for smaller pension schemes

Flow is our solution designed specifically to meet the needs of smaller pension schemes.

Flow offers a unique combination of guaranteed pricing, flexible post-sale experiences, and dedicated support, ensuring a smooth and efficient transition for schemes under £150m.

Why choose Flow?

When we speak to pension schemes who have used Flow, they typically highlight three key reasons why.

Immediate transactable pricing

Our discussions with trustees indicate that once a scheme decides to approach an insurer for a buy-in or buyout quotation, they value price certainty and a quick transaction, without the need to recieve a time consuming indicative quote ahead of a transactable premium.

We regularly publish our affordability index to give your advisors insight into our pricing levels and confidence in affordability whilst you are preparing for the Flow process.

Flexible price lock and premium payment

We offer a price lock for all Flow transactions, providing clarity and certainty from the point we issue our premium until the buy-in is signed.

For Asset Management clients, we lock the premium to the value of their PMC unit funds, ensuring that affordability doesn't change, and will novate the unit funds as premium payment, to remove asset restructuring costs.

Dedicated, personalised and tailored post-transaction support

Flow offers tailored data cleanse timescales and personalised support, with our dedicated resources working seamlessly with a scheme's existing processes to ensure efficient data cleansing, project management, payroll matching, and post buyout member care.

Flow process

1. Confirm suitability and pricing slot

Trustees and advisors complete a simple triage checklist to confirm suitability.

L&G confirm pricing slot which will be held for 2 weeks for trustees to confirm that they wish to proceed.

2. Complete data and benefit templates

Trustees and advisers complete Flow data and benefit template and pre-sale administration questionnaire ahead of scheduled pricing slot.

3. Transactable premium and contract

Within 4 weeks L&G provide transactable premium, contract and benefit specification. Trustees can proceed as soon as they are ready.

Price Lock preserves affordability for up to 6 weeks.

4. Conduct data cleanse with support

Data cleanse period over a mutually agreed target timeframe.

Detailed support from L&G at the start of the data cleanse period with scheduled check-ins thereafter.

GMP equalisation completed within flexible data cleanse timeframe. Our data template includes built in validations to assist with the cleanse.

5. Submit final data and agree balancing premium

Trustees and advisors send final data to L&G with all in-built validations passed or with explanations for residual checks failing.

Swift agreement of final data and calculation of final balancing premium.

6. Transition to buyout

Once any balancing payment is settled, the scheme can proceed to buyout, member administration is transitioned to L&G's award-winning customer service team and individual policies are issued.

Tailored solutions, personal support

In this episode of the PRT Pod our experts discuss how Flow revolutionises small scheme de-risking with innovative features, transactable pricing, and exceptional customer care.

Tailored solution for smaller schemes, Flow

The PRT Pod

Our de-risking podcast that takes you under the umbrella at Legal & General, along with industry experts, to discuss the latest trends and market dynamics.

Recent flow transactions

£16 million buy-in with John Graham (Dromore) Limited Pension and Life Assurance Scheme

In April, we announced a £16 million buy-in with the John Graham (Dromore) Limited Pension and Life Assurance Scheme, securing the benefits of 172 retirees and deferred members.

£21 million buy-in with The Leprosy Mission Central Pension Scheme

In July, we announced a £21 million buy-in with The Leprosy Mission Central Pension Scheme, insuring the benefits of 197 retirees and 88 deferred members.

Endgame blog

Our Asset Management business’ dedicated information hub for everything endgame.

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