How L&G Is Reimagining Workplace Savings | Legal & General | FF Virtual Arena #361

At the FF Virtual Arena, Katharine Photiou, Managing Director of Workplace Savings at Legal & General, offered a rare look inside how one of the UK’s largest financial institutions is transforming the way millions of people engage with their money. With responsibility for pensions serving over 5.7 million members, Photiou sits at the intersection of scale, technology, and long-term financial wellbeing.

Legal & General manages more than a trillion pounds in assets globally, but Photiou was clear that scale alone does not guarantee meaningful engagement. In fact, the bigger the institution, the harder it becomes to deliver experiences that feel personal, intuitive, and relevant. That challenge became the catalyst for L&G’s redesigned workplace savings app, launched in late 2024.

Since launch, the app has recorded around 15 million visits, with exceptionally strong retention. Around 70% of users return every three months, and half engage monthly. But beyond the numbers, the shift is behavioural. Members who once viewed pensions as distant and abstract are now actively engaging with their finances, checking balances, exploring projections, and making informed decisions.

The app is designed to go far beyond pension balances. By embracing open finance, members can link external pensions, bank accounts, and ISAs, giving them a holistic view of their financial lives. Tools for budgeting, income analysis, and savings goals help bridge the gap between day-to-day finances and long-term retirement planning. What was once a static annual statement has become a living, evolving experience in members’ pockets.

Photiou emphasised that engagement is moving from passive to active. Members use planners and dashboards more frequently via the app than the web, suggesting mobile-first experiences are reshaping financial behaviour. Importantly, this shift benefits employers too. Seeing employer pension contributions grow month by month reinforces the tangible value of workplace benefits, strengthening the employer–employee relationship.

Behind the scenes, the app’s development was anything but rushed. Built using React Native, it went through extensive alpha and beta testing with real employers and employees. L&G deliberately tested for moments where friction was necessary, ensuring members paused to consider significant financial decisions rather than racing through journeys.

Looking ahead, personalisation and AI will play a growing role. The dashboard — described as the app’s “prime real estate” — is being redesigned to adapt content to each individual user. Longer term, Photiou sees AI-powered financial coaches providing contextual, conversational guidance, helping members understand next-best actions without forcing them to navigate complex menus.

Underlying Photiou’s professional drive is a deeply personal story. Her family arrived in the UK as refugees, losing everything overnight. That experience instilled a lifelong belief in the importance of saving — short, medium, and long term. It’s a perspective that now shapes how Legal & General designs experiences for millions: not just to manage pensions, but to give people confidence, control, and resilience in an uncertain world.