Legal & General Investment Management (LGIM) unveils two new tech-driven initiatives to boost members’ engagement at the latest edition of its Client Conference, taking place today.
17 Sep 2020
To better link pensions to retirement outcomes and help members visualise the stages of their future retirement, LGIM has switched on its refreshed and enhanced multi-channel wellbeing hub ‘Go&Live’, that will be available to defined contribution scheme members in the UK.
‘Go&Live’ serves members at different stages of their retirement journey, from accumulation (Go&Save) through to the point of retirement and beyond (Go&Retire) – with tailored solutions to maximise their contributions and allow them to enjoy their retirement at the fullest.
Previously, wellbeing services have tended to serve members up to the point of retirement. Go&Retire takes this further by providing a truly bespoke post-retirement support function, by understanding that no member’s journey is the same and they will need to access different services at different times.
Through Go&Retire, members will be able to benefit from LGIM’s unique industry position by having access to a wide range of wellbeing and practical services from the broader Legal & General Group and vetted independent providers, including lifetime mortgages, a suite of annuity options, as well as helping members source care in later life.
This way, scheme members have a one-stop platform where they can address potential welfare issues that could arise throughout all of their different lifestages, accessing services to support both physical and mental wellbeing.
Secondly, and to help members understand how their investments can align with their principles, LGIM has also revealed a pilot project in collaboration with investment transparency technology provider Tumelo. Delivered via Tumelo’s software, the new platform allows approximately 52,000 members across two of LGIM’s largest clients to access, learn and express informed opinions about their investments to their fund managers.
The Tumelo pilot aims to provide members with greater transparency over their scheme’s portfolio, as well as increase their engagement on the way their money is being managed, through a greater understanding of the sensitive decision-making process of companies where they own a stake. Once members have shared their opinions as to how to they would vote on key issues, they are able to see how their views compare against many of their peers and their own fund managers, as well as see the outcome of the votes.
The opinions expressed by members via Tumelo are exclusively advisory in this pilot. They do not currently have a direct impact on the vote indications set by LGIM’s stewardship team, however they will influence what LGIM and pension schemes know about their members, what matters to them and their desire for new products and services.
Emma Douglas, Head of Defined Contribution at LGIM: "Through both exciting initiatives, we are harnessing technology to draw a practical picture of retirement lifestyles – and help members understand how their investments can align with their principles.
Our research has shown that most members don’t spend much time thinking about how their pension money is invested but once they have the opportunity to engage they are interested in the underlying themes such as climate change, human exploitation, and fair pay.
Increasingly a ‘good member outcome’ isn’t just about building up as much as possible in the pot during the accumulation period, it’s also about helping members make the right decisions and giving them the right options and help when they come to spending their retirement assets."
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 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 2022
Legal & General Investment Management
Legal & General Investment Management is one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.29 trillion1. We work with a wide range of global clients, including pension schemes, sovereign wealth funds, fund distributors and retail investors.
For more than 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.
1Globally, we manage assets of £1.42 trillion or CHF 1.75 trillion as at 31 December 2021 (source: LGIM internal data as at 31 December 2021). The data combines assets under management by LGIM in the UK, LGIMA in the US and LGIM Asia in Hong Kong. Assets under management include securities and derivatives positions.
*at 11 Jan 2023
Past performance is not a guide to the future. The value of an investment and any income taken from it is not guaranteed and can go down as well as up, you may not get back the amount you originally invested. For illustrative purposes only. Reference to a particular security is on a historical basis and does not mean that the security is currently held or will be held within an LGIM portfolio. The above information does not constitute a recommendation to buy or sell any security. Views expressed are of LGIM as at 3 January 2023.
IMPORTANT LEGAL NOTICE
In the European Economic Area, it is issued by LGIM Managers (Europe) Limited, authorised by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended) and as an alternative investment fund manager with "top up" permissions which enable the firm to carry out certain additional MiFID investment services (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), as amended). Registered in Ireland with the Companies Registration Office (No. 609677). Registered Office: 70 Sir John Rogerson's Quay, Dublin, 2, Ireland. Regulated by the Central Bank of Ireland (No. C173733).
LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa ("CONSOB") and is registered with Banca d'Italia (no. 23978.0) with registered office at Piazza della Repubblica 3, 20121 Milan, (Companies' Register no. MI - 2557936). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority ("BaFin"). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets ("AFM") and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231.Details about the full extent of our relevant authorisations and permissions are available from us upon request. For further information on our products (including the product prospectuses), please visit our website.