Legal & General introduces new pension

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Legal & General has added a new pension to its Portfolio Plus range of retirement savings products.

The company's new Portfolio Plus Pension (PPP) has been designed to offer consumers who do not need self investment of income withdrawal facilities an open architecture option.

According to the firm, the product is available either directly or through the Cofunds platform.

Legal & General's director of individual wealth products, Andy McKinnon, said: "The choice and flexibility of the pension means it can adapt over time to a customer's changing situation, without the need to transfer to another plan."

He added that the company's "product expertise, excellent service and distribution strength" would provide advisers with a chance to "choose from a broader range of competitively priced funds".

Legal & General also recently launched a new tracker mortgage through its Mortgage Club initiative.

The lender has teamed up with Scottish Widows to offer the deal through the scheme, which is designed to offer advisers a "one-stop shop" to access companies.

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