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Catch up with the latest press releases from LV=

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LV= comments on FCA’s retirement income market study

Press release: 26/03/2015

Philip Brown, Head of Retirement Propositions and Change at LV= said:

“We welcome the FCA’s recommendations which helps ensure that those approaching retirement are able to take full advantage of the pension reforms.

“LV= has long called for the creation of a pension passport – a one page document that clearly sets out clear, consistent data about a pension savers existing pension(s). We believe this to be the best way to encourage those approaching retirement to shop around and make the most of their pension fund. Post April, we will be working with the Behavioural Insights team, who are in turn working with Her Majesty’s Treasury, to test the usability of a simplified wake up pack.

“We still believe the best way of comparing annuity quotes is through the advice process and we remain committed to working with advisers to help them demonstrate the value of advice at retirement. Guidance and advice will play a key role in improving outcomes for people at retirement. We support the implementation of Pension Wise and believe the service should signpost retirees to regulated advice where appropriate.”