Legal & General Retirement Institutional (“Legal & General”) has determined a way to plug approximately a fifth of the UK’s infrastructure funding gap over the next decade, by tackling one of the “mega-gaps” the UK faces over the next ten years: infrastructure.
17 Jun 2020
Today, Legal & General launches a report entitled “The power of pensions: How pension savings can help to build the UK’s infrastructure and drive growth in all regions”, which focuses on how Legal & General and other insurers can tackle the UK’s infrastructure gap and encourage “inclusive capitalism” that improves everyone’s lives.
Investment in infrastructure is key to maintaining the long-term competitiveness of the UK economy and is vital to delivering the Government’s modern “Industrial Strategy”.
The infrastructure investment gap over the next ten years is likely to be £1 trillion. Regions across the UK are calling out for investment in transport, homes and energy in order to bring infrastructure up to where it needs to be to support our society’s needs.
Read The power of pensions report here
Read the full press release via the link below
Nigel Wilson: “In order to have a strong and competitive economy on the world stage, the UK needs to invest a significant sum into improving its infrastructure and levelling up all regions.
Long term investors like Legal & General have an important role in delivering regeneration, housing, transport and renewable energy investment by harnessing the ‘power of pensions’."
Notes to editors
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.4 trillion in total assets under management* of which a third is international. We also provide powerful asset origination capabilities. Together, these underpin our leading retirement and protection solutions: we are a leading international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.
*at 31 Dec 2021
Legal & General Retirement Institutional (LGRI) works with trustees and sponsoring companies of defined benefit (DB) pension schemes of all sizes to settle their pension obligations and secure scheme members’ benefits, through a full range of buy-ins, buyouts and other de-risking solutions.
Our UK Retirement annuity book stands at over £89 billion as at 9 March 2022, of which over £28 billion is invested in direct investments that deliver positive social and environmental impacts, such as clean energy and affordable housing.
Our Client Services’ 12-month rolling Net Promoter Score (NPS) is above +70, which is widely regarded as being at a “world class” level.
(As of 31 Dec 2021)