Railways Pension Schemes Trustees appoints Legal & General to provide a flexible retirement solution to members

18 June 2021

Railways Pension Trustee Company Limited, the Trustee of the Railways Pension Schemes (the Trustee), with the support of its administrator, RPMI Limited (RPMI), has appointed Legal & General Investment Management (LGIM) to provide members of the railways pension schemes access to a drawdown arrangement within the Legal & General WorkSave Mastertrust.

For the first time, the railways pension schemes will offer its defined contribution members access to a flexible retirement solution. Defined benefit members who want to use their additional voluntary contribution benefits more flexibly will also be able to use the arrangement.

The Legal & General WorkSave Mastertrust will provide members with access to a competitive, bundled drawdown arrangement, underpinned by the flagship Retirement Income Multi Asset Fund.

The new arrangement launched on 30 April 2021, and is underpinned by new online guidance content to help members understand their options.

Source: Legal & General