Pension advice

Starting to save for your pension when you’re young is a great way to make the most of your income when you eventually retire but it’s hard to know exactly what to do.

There are lots of different options and things to consider such as workplace pensions, personal pensions, tax and government schemes and incentives.

One of our expert advisers will be able to help you understand the best way to start your pension, and once you have got started they will also be able to help you as and when your pension savings needs change, such as when your salary changes significantly, you want to save for a pension in different ways or want to have more control over where your money is invested.

If you're unsure what option is right for you, speak to one of our expert advisers who can talk you through your options and make sure you choose the right product for you.

Industry changes

There have been some industry changes that affect the way financial advice is given, how it's paid for and the qualifications needed by the advisers to provide advice to customers. Here is a summary of those changes:

1. You now have the choice of paying a fee directly to your adviser up front, or by reducing your investment. Advisers will no longer get commission. This means you’ll know exactly how much the advice will cost and you can be sure that the advice isn't influenced by the amount of commission being paid.
2. You'll be told if the advice you get will consider all or just some of the products in the market. Either way, you'll understand what you’re paying for.
3. Advisers giving financial advice will have to pass harder exams and study development courses throughout the year. This means that you can be sure that the advice you get will be of a high standard. LV= we've always been proud of the quality of service our financial advisers provide and they have the best quality training to ensure our customers get the right advice. Whilst some advisers may struggle to meet these new regulations LV= are ready.