The Legal and General (L&G) Master trust has reached £30bn in assets under management (AUM), becoming the first commercial master trust in the UK to reach the milestone.

The scheme has 349 participating employers and is responsible for looking after the retirement savings of 1.9 million people in the UK. Since appointing Robert Waugh as the chair of trustees in 2023, the scheme has developed several new investment options for members, including the Lifetime Advantage Funds, which include the L&G Private Markets Access Fund and a Shariah investment proposition.

Almost a third (32 per cent) of Gen Z are using social media for information on retirement planning, according to research from Standard Life, making it the single most used source.

Its latest Retirement Voice 2024 report showed that Gen Z was some way ahead of Millennials in their reliance on social media, with only 25 per cent of the older generation citing it as a source. The survey found 14 per cent of Gen Z have used TikTok, 13 per cent have looked at LinkedIn, 12 per cent have turned to X, 11 per cent have used Instagram, and 10 per cent have relied on Facebook when looking for information or help about retirement.

The Taskforce on Nature-related Financial Disclosures (TNFD) has announced that it has received strategic, multi-year grant funding from The Rockefeller Foundation.

The grant is part of the foundation’s broader effort to mobilise private sector resources for climate mitigation, adaptation and resilience while playing a meaningful role in mainstreaming nature-based solutions. The Rockefeller Foundation will join TNFD’s stewardship council following the deal.

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