Legal & General were established in 1836 and are one of the leading financial services companies in the UK. They are responsible for investing over £400 billion worldwide on behalf of investors and have over seven million customers in the UK.
They are one of the biggest providers of workplace benefits in the UK. They have provided pension schemes since the early 1970s and now manage over 4,000 pension schemes including some of the largest in the country.
Your Sainsbury's Self Invested Pension Plan (SIPP) pot is safe with Legal & General.
Legal & General Assurance Society (‘LGAS’) is covered by the Financial Services Compensation Scheme (FSCS). The FSCS is designed to pay customers compensation if they lose money because a firm is unable to pay them what they owe for any reason.
The SIPP can either contain an insured arrangement or you can choose to self-invest within the SIPP. Both types of arrangement are held within what LGAS call a Worksave Pension Plan.
In an insured arrangement the investments are held within insured funds. Money paid into an insured arrangement is invested in the scheme policy issued by LGAS.
If you have chosen to self-invest, money will be invested on your behalf in investments selected by you or by an adviser chosen by you. The security of those arrangements and the applicability of the FSCS will vary depending on the nature of the investment made. Assessment of the nature of the financial protections available to you should be made in conjunction with your financial adviser.