What we are doing.


We’re supporting people who are preparing for retirement or who have already retired in a number of ways.

Understanding the longer term

  • We’re working with the Longevity Science Advisory Panel and the International Longevity Centre on the issues associated with living longer.
  • We’re working on the issues of age and retirement in China, particularly those around remote monitoring healthcare and the implications for the one child policy on elder care. Age UK and Elderly Accommodation Counsel have helped us in our understanding.
  • We’re continuing to work with Elderly Accommodation Counsel (EAC), Age UK and the Grandparents’ Association to gather views on the impacts of increased longevity and potential long-term care solutions. Following the publication of the Dilnot Review, we still need to understand the regulatory boundaries of the long term care marketplace.
    Read the debate on the Dilnot Review on IFAonline
  • We’re providing thought leadership on the longevity agenda to help people understand the implications of not saving enough for retirement. Joseph Lu provided the inaugural Lecture at the EAC Awards on What does the future hold for older people? Follow Joseph on Twitter

Improving our service to retirees

We’ve enhanced our services to pensions with a variety of organisations in 2011.

  • In 2011 we started working with the charity Tax Help for Older People (Tax Volunteers) to understand the tax issues pensioners’ face when trying to make ends meet. It has provided our annuity operations with insights into the areas we could do better in. Find out about Tax Help for Older People
  • We’re continuing to provide training to our front line operations with organisations like Age UK to bridge the generation gap between employees and our older customers. We’ve worked with AGE Concern to provide Internet access courses for older people. This was recognised in the 2011 Digital Unite Awards

Supporting existing pension schemes

We’re seeing a number of new companies coming to us for help with managing their existing pension schemes.

  • During 2011 we took responsibility for major pension schemes where the trustees asked us about our work on campaigning around pensioner poverty. We’re seeing strong interest in our workplace proposition and innovative auto enrolment solutions, with a 30% year-on-year growth in schemes secured. In total, 133 new workplace pension schemes were secured during 2011.
  • We’re leading the de-risking of the pensions schemes market, helping major companies struggling with their pensions liabilities get access to new funds to ensure their pension payments in the future are safe. See how we worked with the Turner and Newall Pension Scheme

Supporting elder care services

We support external partners in providing services to older people in their communities. These organisations also give us useful insights into the way older people are living their lives.

  • In 2012 we again supported the Elderly Accommodation Counsel Awards for retirement housing. Together, we’re launching a tool to provide retired people with Internet access, giving us the ability to easily poll their views on what it’s really like to live in this type of accommodation.
  • We continued to invest in the Medicare van services in Mumbai with IndiaFirst . This is delivering 20,000 medical interventions each year through HelpAge International. This service is helping us understand the emerging health risks and trends associated with this marketplace.
  • We’re in the final year of supporting the Age UK HandyVan service, which delivers home security solutions to older people in Cardiff, Birmingham, Sussex and Swindon. As Legal & General closed its offices in Swindon in 2011 we passed the responsibility for the HandyVan service in the city to our business partners, Nationwide.
  • We worked with social housing provider, Anchor Trust, one of our new pension clients in 2011, to support their lobbying day at Westminster. They called for all-party support for an Older Persons Minister as part of their Grey Pride Campaign. We were the only financial services business to back this campaign.
  • We’re working with Age UK to provide staff with the tools to spot the signs of vulnerable customers and signpost them to Age UK’s services. As a life & pensions provider, we’re keen to develop the equivalent of what the banks and building societies have for dealing with vulnerable customers. Vulnerable Customer Policies (PDF) 68 KB
  • We continue to provide campaigning groups like Action on Elder Abuse and the Grandparents’ Association with our meeting facilities.
  • Our 2011 Making a Difference Awards for employees celebrated employees who have contributed to relieving pensioner poverty. We recognised the work of:

Auto enrolment and our business

We support the Government's plans to automatically enrol employees into workplace pensions, which starts with staged implementation from October 2012.

Automatic enrolment will be a major contribution to making pension saving far more socially inclusive in the UK. Around another seven million people will start saving in workplace schemes as a result.

  • one quarter of these will be aged under 29
  • more than one in ten of them will come from non-white ethnic backgrounds
  • many will be low earners, with the average annual salary for those automatically enrolled expected to be only £19,000pa
  • there will be a higher proportion of women than among pension savers at present.

We welcome this opportunity to broaden the scope of pension saving in the UK and are playing a full part in making it a success.

Our Pension Strategy Director Adrian Boulding has taken part in the Department of Work and Pensions independent review, Making Automatic Enrolment Work.

We have built a suite of corporate pension products to help employers meet their new statutory duties.

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