Legal & General Investment Management (LGIM) has announced a strategic investment in Smart Pension to broaden its offering for small pension schemes going through the auto-enrolment process. The company will invest an undisclosed amount of money into SmartPAC, which is set up as part of the government Emma Douglas, head of LGIM’s defined contribution pensions division, will be appointed as a non-executive director of the fintech firm.
Legal & General Investment Management (LGIM) has announced a strategic investment in Smart Pension to broaden its offering for small pension schemes going through the auto-enrolment process. The asset manager has acquired a minority stake in the auto-enrolment start-up, which already exclusively used LGIM funds. Emma Douglas, head of LGIM’s defined contribution pensions division, will be appointed as a non-executive director of the fintech firm.