Jesal Mistry’s career journey in Defined Contribution

At Legal & General, we take pride in our talented professionals who are dedicated to making a difference in the world of pensions and investments. 

Take Jesal, a leader in Defined Contribution (DC), as an example. 

With years of experience in the industry, Jesal has played a key role in shaping innovative pension solutions that deliver better outcomes for savers. 

Jesal shares insights into his DC career journey, what drives him, and his vision for the future of Defined Contribution pensions. 

Can you tell us about your career journey and how you came to specialise in Defined Contribution (DC) pensions at Legal & General?

"I started my career in the pensions industry on the consulting side. I was fortunate to join a graduate programme that allowed me to explore different areas of pension consultancy and pick what interested me most. 

“The two areas that I found most fascinating were investments and Defined Contribution pensions. Defined Contribution pensions stood out to me as a relatively new area of the market at the time, and I recognised the growth potential so focused my attention on this area. 

“Over time, I found an opportunity to combine my interest in investments with DC pensions. After 15 years as a consultant, I felt ready for a change and a new challenge in a different part of the industry, so I joined Legal & General."

What inspired you to focus on Defined Contribution Pensions, and how has this area evolved since you started your career?

"I chose DC pensions because it was a key growth area within the industry, and I wanted to be part of that development. 

“I was also drawn to the fact that DC pensions are closer to the end customer, allowing me to make a real difference. 

“Since I started, the introduction of automatic enrolment in 2012 has dramatically changed the landscape, leading to rapid growth and more prominence for DC pensions in the UK."

What are some of the key milestones you’ve experienced during your time at Legal & General? 

"At L&G, I’ve had the chance to be part of many great teams, winning new clients and delivering solutions that improve retirement outcomes for members. 

“One of my proudest achievements is leading a project that allows DC pension savers to access private market investments, which was launched in July 2024. 

“This opens up new investment opportunities, potentially increasing savings for members, and has been a high-profile and innovative initiative."

What has been the most rewarding aspect of working in Defined Contribution Pensions, and how does it align with your career goals?

"The most rewarding aspect of my role has been working with colleagues and clients to deliver better solutions that improve returns for our customers. 

“My career goal has always been to make a difference in society, and having the ability to influence customer outcomes aligns perfectly with that ambition.

Our purpose is to improve lives, build a better society, and create value. We do the things others only talk about, and we’ve been doing it for years. If you are passionate about making a difference, L&G could be the right place for you.

How do you stay informed and continuously develop your expertise in Defined Contribution Pensions, given the nature of the industry?

"It's essential to keep up with the ever-evolving landscape. I make it a point to dedicate time each morning to read industry press, listen to podcasts, and participate in webinars. 

“This keeps me informed on the latest trends and helps me continually improve my knowledge and expertise.

We highly value individuals with a continuous learning mindset, as we believe that ongoing growth and development are essential to delivering the best outcomes for our customers.”

What trends and challenges do you see shaping the future of Defined Contribution Pensions, and how is Legal & General adapting to them? 

"As more people rely on DC pensions, there will be an increasing focus on ensuring they deliver good value and outcomes. One challenge we’re facing is that contribution rates aren’t high enough to provide adequate retirement outcomes.

“L&G has been working with industry bodies to advocate for higher contributions while improving investment solutions to make the most of what we have. Technology will also play a crucial role, and we're launching a new app in September 2024 to help savers engage with their pensions more effectively."

What advice would you give to someone looking to build a career in Defined Contribution Pensions?

“Don’t be afraid to take risks in your career. Sometimes, you need to take the plunge and go for what you want." 

Unlock a career in Defined Contribution

Jesal’s career journey highlights the importance of staying adaptable, continuously learning, and focusing on what truly matters—delivering better outcomes for savers. 

We are proud to have leaders like Jesal who are passionate about making a difference in the pensions industry. 

If you’re interested in exploring a career in Defined Contribution or learning more about how we’re shaping the future of pensions, we encourage you to explore our opportunities.