Legal and General has launched an online portal to allow members of defined contribution schemes to view their pension details safely.
More than 3.7m members of L&G pension schemes are now eligible to register for its enhanced pensions portal.
The portal enables users to access their pension anytime on any device as well as have access to simplified pension statements and other documents.
Members can also access fund fact sheets and breakdowns of lifestyle products and are able to compare and choose which funds they want to invest in or redirect any future pension contributions.
There are also enhanced security features, such as one time passcodes, and access to support if needed through the portal’s virtual assistant.
The portal is also ready for future technologies such as the pensions dashboard.
Emma Douglas, head of defined contribution at L&G, said the coronavirus crisis had highlighted the importance of building and enhancing technologies throughout the pension industry.
Ms Douglas said: “Recent events have only underlined why the pensions industry must invest in cutting-edge technology to better serve scheme members – via the channel each individual finds easiest.
“This portal is a significant piece of new infrastructure for a ‘lockdown’ UK – and has been completed by our teams who themselves are also operating and collaborating remotely. In a time when financial security is more important than ever, the new portal allows members to view their pension details safely, whenever they need to.”
According to the provider, the portal has proven it is able to cope with an increase in demand after it was able to handle traffic spikes of up to 75 per cent more than average during the Covid-19 lockdown and pension benefits statement season.
As of last week (June 11), a total of 1.06m members had already registered and logged-in to make use of the new portal.
amy.austin@ft.com
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