Legal & General includes dividends to Executive IP pension contribution limit

Up to £40,000 per annum

John Brazier
clock • 1 min read
Legal & General includes dividends to Executive IP pension contribution limit

Legal & General has increased the maximum pension contribution limit on its Executive Income Protection (IP) cover to include dividends.

The Executive IP product, launched last year, was designed to provide cover for small business owners and individual employees on higher salaries. The change will see employer pension contribution benefits on Executive IP now includes dividends, as well as PAYE earnings, with a new limit of one-third of earnings, up to a maximum of £40,000 per year. The insurer stated that the change is the result of feedback from advisers and is aimed at allowing clients who take a proportion of their income...

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