JLT Growth Fund available for use in GPPs

JLT has made its growth fund available to members of group personal pension (GPP) plans.

Aegon is the first pension provider to offer this option for employers to include in their GPP investment selection.

The JLT Growth Fund was launched in May 2012 for individuals wanting a diversified growth fund.

Paul Armitage, head of DC consulting at advisers JLT, said: “GPPs have traditionally focused their offerings on passive funds, led by the pressure to keep costs down.

“However, this is often not in the best interest of members, with industry research showing that lower levels of volatility (present in active, highly diversified funds) helps to keep members engaged in saving.

“The fact that diversified growth fund solutions are now starting to appear on GPP platforms will brighten retirement prospects for scheme members.”