New look L&G pension plan

Legal & General has revamped its Executive Pension Plan to clearly differentiate this product from stakeholder pensions. Key changes to the plan involve increasing minimum regular contributions to £250 per month, or £2,000 per year, from the previous level of £75 each month or £750 per year. The amount of contribution allocated to units has been improved for regular and single contribution plans where the adviser takes level or no commission. The minimum term for the plan has been increased to five years from three. The changes, introduced at the end of February, apply to new customers o...