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L&G ditches £1k auto-enrol SME charge in online move

Legal & General has scrapped its £1,000 auto-enrolment scheme charge for small and medium-sized employers as part of a move to set up all schemes online.

In September 2013, Money Marketing revealed how the insurer was charging employers a one off £1,000 fee to set up auto-enrolment pension schemes with fewer than 500 employees. The charge was in addition to the member-borne costs of running the scheme.

But now L&G says all new schemes will be created through a new online portal and will not have to pay the charge.

It says SMEs will able to set up their scheme within 30 minutes and have it fully live within a day.

L&G chief operating officer Jim Islam says: “With tens of thousands of SMEs reaching their staging dates over the next few years, there’s huge need for a straightforward, self- service online solution so they can set up their scheme quickly and easily.”

“Schemes joining our workplace platform only pay 50bps for our default auto-enrolment multi asset fund. I believe this package in conjunction with our new online system is a compelling proposition for SMEs implementing auto-enrolment.”

L&G already has over one million auto-enrolment members.



Citizens Advice names first pension guidance sites

Citizen Advice has named the first 44 bureaux that will deliver face-to-face sessions as part of the Government-backed pensions guidance service Pension Wise. People will be able to book guidance appointments at any Citizen Advice office but will have to travel to a designated delivery centre for the session itself. Each office will have between […]


RGA shuffles protection team as Mark Johnson exits UK business

Reinsurer RGA has appointed Kate Gillmore to replace UK business development manager Mark Johnson. Johnson is leaving his UK-based role to oversee the company’s expansion into the sub-Saharan protection market. Gillmore will now oversee business development for the UK business, having joined from RGA Australia in August. Gillmore has previously spent three years as business […]


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