Legal & General Buys Pensions Finder Amid Brexit Delays
Law360, London (August 12, 2019, 4:34 PM BST) -- Insurance giant Legal & General said Monday that it has snatched up a company that tracks missing pension pots ahead of potential delays caused by Brexit to the U.K. government's efforts to consolidate workers' retirement savings in a single platform.
The insurance provider said its retail retirement unit has bought out Finovation Ltd., for a fee which it did not disclose, to help its workers and retirees trace retirement savings they may have forgotten or lost.
Finovation, which does business as MyFutureNow, uses personal details and employment history from a database of insurance providers. Legal & General said it hopes the information will...
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