16 Jun 2020
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:
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.
Emma Douglas: "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."
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 Investment Management is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.28 trillion (€1.43 trillion; CHF1.55 trillion; $1.75t trillion; JPY181 trillion)*. We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors. Throughout the past 50 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.
*LGIM internal data as at 31 December 2020. The AUM disclosed aggregates the assets managed by LGIM in the UK, LGIMA in the US and LGIM Asia in Hong Kong. The AUM includes the value of securities and derivatives positions.
(As of June 2021)
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