The 2022 WorldPensionSummit — WINNER

04 Nov 2022

The 2022 WorldPensionSummit — WINNER

This was a thorough and thoughtful application, with a clear area that it is trying to solve.
— P&I WorldPensionSummit Jury

At the 2022 WorldPensionSummit, LifeGoals has been recognized as the winner in the category of PLAN DESIGN INNOVATIONS — Plan Design.

The WorldPensionSummit is THE global platform ‘for and by’ pension professionals focused on the discussion of the long-term components of vital ‘pension cross-roads’. The 13th edition was themed ‘Optimising the Transition’ and provided peers from around the globe with global learnings, networking and inspiration.

The innovation awards give the participants an opportunity to showcase their offering and receive recognition from their peers.

Michael Hadjihannas, CEO stated: “We couldn’t be more proud of our innovative, creative, dedicated team members that have been focused on ensuring our product is available for everyone to reach their goals!”

“Our plan allows for pension fund members to save for their retirement as well as other important life goals with six different investment options including bank savings and fixed income savings accounts and four investment strategies. Members can even choose to invest according to their values by selected ESG strategies with the opportunity to switch their portfolios weekly.”

Our group of financial and technical experts was honoured to be recognized in three categories at this year’s WorldPensionSummit at The Hague:

— Technology

These awards connect international pension providers and allow for the opportunity to discuss and debate the future of the industry as well as celebrate the achievements of global pension and retirement professionals. As a team we are more inspired than ever after having the opportunity to engage with so many industry leaders.

Comments from the Jury

This was a thorough and thoughtful application, with a clear area that it is trying to solve. This application most thoroughly described the contextual challenges which was excellent. The jury was struck by a product innovation that may have been in contradiction to the product’s desire to encourage members/customers to “stay invested”. The jury thought the application had a great opportunity to make a lasting impact on the country’s retirement system. Additionally, it was much appreciated it is providing a new, combined solution in a country that is struggling to encourage people to adequately save for their future retirement, and also provides a plan which multiple employers can come under.
The jury also liked the inclusion of ESG options and metrics as this is something more savers need to be made aware of.

About the LifeGoals Multi-Employer Provident Fund

Emergo Wealth’s LifeGoals Multi-Employer Provident Fund has a strategy based around “goals-based investing”. This allows customers to save for specific life events as well as retirement. To support this aim, it has six investment options, including bank savings and fixed income savings accounts alongside four investing strategies. It also offers four corresponding investment strategies with an environmental, social and governance (ESG) tilt. Savers can switch portfolios on a weekly basis without any cost.

LifeGoals also implements a “stay invested” philosophy, allowing savers to remain invested when taking an income. Benefits can be paid into a LifeGoals investment account to avoid savers being forced to sell. In addition, savers can add savings from elsewhere using the LifeGoals online platform. The LifeGoals platform also provides financial planning tools and a life insurance product provided by MetLife, as well as optional critical illness cover. Lifegoals has grown from 46 to 300 employers as of mid-2022. The Fund shows steady and continued growth in terms of members and AUM and is ready to accommodate the Pan-European Personal Pension Product (PEPP) and service individual members exclusively online/remotely.