Legal and General has today launched a new pension product, called the Portfolio Plus Pension it is designed for customers who want to spread their investment in a large number of funds.
Over 40 fund managers are responsible for around 300 different funds, with customers pension payments being spread between up to 100 of them. Both Legal and General themselves plus independent financial advisors are promoting the new Portfolio Plus Pension, giving customers plenty of choice regarding access to it.
A Legal and General spokesman said that this particular pension option would be ideal for those customers who would like the flexibility inherent in a self invested personal pension.
LV=, also known as Liverpool Victoria, has committed to get tax free cash to their Annuity Pension holders within five days of receiving all relevant funds and documentation. If this is not achieved they have promised GBP1000 compensation.
Earlier this year Liverpool Victoria unsecured pension holders were told that they would get a similar deal so this step is a continuation of LV=s steps to put the customer needs first. Lump sum payments from pensions are a vital aspect of the whole retirement package, so receiving the funds promptly takes a great deal of stress out of the process.
A spokesman from the organisation said that Liverpool Victoria was well aware of their customers needs and was doing all it could to streamline the process for customer benefit.
A recent survey has shown that those aged 50 and over, the typical Saga Insurance customers, are concerned about how the credit crunch will affect their pensions and investments.
According to the survey, carried out by Millennium, over 75 percent of these Saga Insurance aged respondents believe the credit crunch will negatively impact on their investments, whilst almost 60 percent are expecting their pension provisions to be affected. However it is not all doom and gloom, since over three quarters of the over 50s are also saying they will not give up holidays and eating out.
People aged 50 and over tend to have a good view of the economy, having experienced its ups and downs over their lives. This is why the opinions of the Saga Insurance customers are valuable and worth bearing in mind no matter what age you may be.
