Jayesh Patel: The award recognises not only of what we've achieved, but also our determination to keep raising the bar for our clients, members and the wider industry.
Professional Pensions speaks to L&G head of UK DC distribution Jayesh Patel about how the firm won the DC Pension Provider of the Year accolade.
What does it mean to win the award?
It was a genuine honour to receive the DC Pension Provider of the Year award, which was judged by a panel of experienced trustees, scheme leaders and industry experts.
In a highly competitive and fast-evolving market, it caps an exceptional year for L&G – defined by innovation, tangible benefits for clients and members, and high standards of service.
Reflecting our commitment to seeking better outcomes for millions of pension savers, the accolade recognises not only of what we've achieved, but also our determination to keep raising the bar for our clients, members and the wider industry.
What have been your main achievements as an organisation over the past 18 months?
We've continued to innovate at scale and evolve our default investment strategies and expanding access to private markets through our Private Markets Access Fund.
We also introduced our holistic digital guidance planner, with retirement shortfalls falling by 50% among those who used the planner following adjustments to their plans.
We integrated open finance and additional member support into our L&G app – now the UK's top-rated workplace pension app – reflecting the impact of digital financial empowerment.
Importantly throughout this, we also maintained exceptional service standards, achieving a record net promoter score of +62 and member satisfaction score of over 98%.
What do you believe sets you apart from your peers and contributes to this success?
Our ability to combine scale, innovation and service excellence.
We invest in solutions that will drive positive action and improve member outcomes, from expanding access to private markets and enhancing our default strategies to providing digital retirement guidance and personalised member engagement.
We focus on turning engagement into action, using data, technology and behavioural insights to help members make more informed decisions about their financial future.
At the same time, our commitment to outstanding service remains unwavering. Above all, it's the passion, expertise and dedication of our people that bring these innovations to life.
What are the key challenges facing your pension scheme clients at the current time and how are you helping them address these issues?
Employers and trustees are navigating an increasingly complex pensions landscape. Alongside the long-standing challenge of improving retirement adequacy and member engagement, they are preparing for major regulatory developments, including targeted support, pensions dashboards, value-for-money assessments and new retirement income requirements.
We are helping to shape that future. We recently received our approval to provided targeted support to our members and became the first UK provider to connect to the live pension dashboard ecosystem.
We support clients by staying at the forefront of regulatory change while combining innovative investment solutions, personalised engagement and practical retirement support to help improve long-term member outcomes.
How will you continue to improve your services to pension scheme clients over the coming 12 months?
Looking ahead, our focus will be on helping clients and members address one of the industry's most significant challenges: supporting people as they move from accumulating savings to drawing a sustainable retirement income.
Alongside this, we're advancing our Decades Ahead programme, helping to tackle pensions adequacy through research and insight, policy engagement and solutions that support better savings behaviours and retirement outcomes.
We will continue to provide holistic guidance and targeted support, embedding ready-made, data-driven suggestions within member journeys to provide more personalised guidance, improve engagement and boost confidence in key financial decisions.
At the same time, we'll expand our investment proposition through innovative income solutions and evolving decumulation capabilities.
Comments from the Judges
Our winner in this category was praised for "clear innovation" and a year of industry firsts. Judges particularly noted the firm's introduction of guided retirement journeys and its launch of a target date fund range that includes private market access.
Quotes from the UK Pensions Awards judges included the following:
- "Top of the class with a great submission"
- "Clear innovation in guided retirement and private markets"
- "Delivered an exceptional year defined by industry firsts, measurable client benefits, and consistently outstanding service."
