Legal and General to launch new pension plan

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Financial Services > Pensions > News

Legal and General to launch new pension plan

Tue, 05 Aug 2008

Legal and General is set to launch a new individual pension plan, it has been announced.

The Portfolio Plus Pension (PPP) will offer a choice of 300 insured funds and each payment type can be invested in a maximum of 50 of these.

Andy McKinnon, director of individual wealth products for the firm, said: "The choice and flexibility of the pension means it can adapt over time to a customer's changing situation, without the need to transfer to another plan."

The product will be ideal for independent financial advisers (IFAs) who are able to recommend a fully insured personal pension, he added.

Consumers interested in the new pension account will be able to access it through their IFA from August 4th 2008.

Recently, Which? personal finance campaigner Dominic Lindley urged the pensions industry to encourage more consumers to shop around for an annuity when it comes time to purchase one.

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