information

We use cookies to give you the best possible experience online. By continuing to use our website, you agree to receiving our cookies on your web browser. Visit our cookie policy page to find out more and how to change your cookie settings.

skip to main content

Catch up with the latest press releases from LV=

Large green heart

LV= launches drawdown report for advisers

Press release: 22/02/2013

Retirement specialist LV= has published a ‘Drawdown: Life after 75’ report for advisers. The report highlights the various personal circumstances and market changes which impact reasons for being in drawdown, particularly for clients over the age of 75.

The report aims to offer advisers practical insight and support, and financial analysis of the drawdown market. The report explores the abolition of compulsory annuitisation at age 75, and addresses the key points that advisers need to consider if their clients wish to remain in drawdown.

The report also looks at alternative reasons why people find drawdown an attractive proposition, such as being able to vary their income for tax reasons, as well as those who want to maximise death benefits to pass to their family. It also addresses the issue of phased drawdown and the opportunity it offers clients keen to shelter their pension funds from a tax liability on death.

Steve Lewis, LV= Head of Distribution said: “We believe that there are many circumstances where income drawdown, be it capped, phased or flexible, can provide clients with a valuable level of flexibility in retirement.

"While it is important that advisers make their clients aware of the challenges they face by remaining in drawdown at older ages, adviser feedback indicates that many simply prefer the financial control drawdown offers them. As one of the leading drawdown providers we feel a responsibility to provide advisers with objective information to help them confidently discuss drawdown products with clients of any age."

For a full copy of the report go to http://retirementcentre.lv.com.

Share with...

What are these?

  1. Digg
  2. Google +1
  3. Delicious
  4. StumbleUpon

Notes to editor

LV=

LV= employs 5500 people and serves over five million customers with a range of financial products. We are the UK’s largest friendly society and a leading financial mutual.

When we started in 1843 our goal was to give financial security to more than just a privileged few and for many decades we were most commonly associated with providing a method of saving to people of modest means. Today we follow a similar purpose, helping people to protect and provide for the things they love, although on a much larger scale and through a wide range of financial services including insurance, investment and retirement products.

We offer our services direct to consumers, as well as through IFAs and brokers, and through strategic partnerships with organisations such as ASDA, Nationwide Building Society and a range of trades unions.

LVFS is authorised and regulated by the Financial Services Authority, register number 110035. LVFS is a member of the ABI, the AFM and ILAG.

Registered address: County Gates, Bournemouth BH1 2NF. www.LV.com