UK - Legal & General has launched a capital-protected index plan for SIPP, SSAS and other self-select defined contribution scheme investors.
L&G says it will give investors a low-risk saving plan that is also index-linked – providing growth in the FTSE100 Index up to a maximum of 55%.
Investors will receive ordinary shares in an Irish-listed closed-ended, variable capital investment company – called Legal & General UK Capital Growth III.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.