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L&G adds lifestyle option

Legal & General is offering a new lifestyle option on its pension fund range.

The global equity index/ index-linked gilt lifestyle option invests initially in the global equity index fund before switching gradually into index-linked gilt and cash funds.

The life office says the move demonstrates its commitment to IFAs by bringing the total number of lifestyle investment options available on its pension to nine.

It says the new profile will appeal to those looking for a wider equity spread. The fund switches take place automatically on a quarterly basis starting five years before the member&#39s selected retirement date.

Other lifestyle options which are available include UK equity index, managed, cautious managed, dual lifestyle, triple lifestyle, consensus lifestyle, global equity index and global equity fixed weights index lifestyle.

Pensions marketing director Andy Agar says: “Lifestyle options have particular appeal to those who appreciate that investment needs change during the life cycle of a pension plan but do not wish to actively manage that change.”

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