Legal & General Workplace Pension: A Plain Guide
The Legal & General workplace pension is a defined contribution scheme: you and your employer pay in and the money is invested, usually in L&G default multi-asset fund. By law the default fund charge is capped at 0.75% a year. What you get out depends on contributions, charges and investment growth, not a salary formula.
Scheme type - Defined contribution (a pot you build, not a salary-based promise)
Common structure - Usually the WorkSave Pension Mastertrust, overseen by The Pensions Regulator;...
Default fund - Typically a multi-asset or target-date fund, for example the L&G Future World...
Charge cap - 0.75% a year on the auto-enrolment default fund by law; many employer schemes...
Plus 4 more in the full guide
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