Skip to content
ADVERTISEMENT
News

L&G adds Targeted Support to proposition following FCA approval

This will allow L&G to send more relevant information to DC workplace pension members, focusing first on those whose pension savings are all in cash. 

2 min read
Share
ADVERTISEMENT

Legal & General (L&G) has received approval from the Financial Conduct Authority (FCA) to offer Targeted Support. 

This will allow L&G to send more relevant information to defined contribution (DC) workplace pension members, focusing first on those whose pension savings are all in cash. 

Recent tests of L&G’s Targeted Support showed that 85% of people wanted to read the materials, 95% found them easy to understand, and 93% were clear on what to do next. 

L&G can now use Targeted Support across its wider proposition, helping to fill the gap between guidance and advice. 

This will help members understand their options and take practical steps.

ADVERTISEMENT

Laura Mason, CEO, retail at L&G, said: “After a significant period of planning and preparation, securing FCA approval for Targeted Support is an important milestone. 

“What sets L&G apart is how we are going to be able to embed it across the full retirement journey. 

“By integrating these capabilities into our existing tools and propositions, we can move beyond simply presenting options to actively highlighting the most relevant path based on people in similar circumstances.”

ADVERTISEMENT

Mason added: “This helps narrow down retirement decisions, making them easier to understand and act on, supporting members to build long-term financial confidence with greater clarity.”

Paula Llewellyn, CEO, DC & workplace savings at L&G, said: “Over the past few years, we’ve built a clearer picture of what helps people engage with their pensions and take the next step. 

ADVERTISEMENT

“When support reflects someone’s circumstances and arrives at the right moment, it becomes much easier to act. 

ADVERTISEMENT

“That’s why we’ve focused on using data and behavioural insight to make our communications even more relevant and practical over time.”

Llewellyn added: “Through tools like our Guided Retirement Planner, we’ve seen how relevant content and clear steps can help people build confidence and move forward with their decisions. 

“Targeted Support allows us to build on that, giving members more practical suggestions based on people in similar circumstances, helping them make progress with greater clarity and confidence. 

“It also means we can deliver a more consistent experience, where each interaction builds adds to previous ones, making our support increasingly valuable over time.”

ADVERTISEMENT

Related