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L&G launches group Sipp

Legal & General is launching a new product in the group defined contribution market.

Available from April 16, Group Portfolio Plus is aimed at employers who are looking to offer their employees a wide choice of pension fund investment plus the flexibility of self investment where required.

The group Sipp will offer 280 insured funds from 40 fund managers.

L&G managing director, corporate wealth Tony Filbin says: “The popularity of the deferred self invested personal pension has grown significantly in the individual pension market in recent months.

“Investors are attracted by the wider fund choice and the investment flexibility offered by the built in self invested option. We are now pleased to offer the same low cost, wide fund choice and deferred Sipp option to employers’ group pension schemes with our group portfolio plus Sipp.”

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