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Catch up with the latest press releases from LV=

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LV= response to FCA Dear CEO letter re. retirement reforms and guidance guarantee

Press release: 26/01/2015

John Perks, Managing Director of LV= Retirement Solutions

“We welcome the rules the FCA has laid out as they should ensure that those approaching retirement are able to take advantage of the pension reforms and make the most of their savings. At a simple level, many reach retirement with medical conditions that could increase the amount they could take from their pension pot yet far too few are currently made aware that they could benefit. However, it’s not just about shopping around for annuities, as drawdown and blended solutions have increasing roles to play. Improving savers’ awareness of the options available to them, and highlighting the relevant risks they face in simple language will empower them to select a solution that best suits their needs.

“Retirees will soon have even more choice as to how they take an income from their pension pot and guidance and advice will play a key role in helping them to navigate these options. We have long been advocates of “at retirement” advice and have been calling for a ban on pension providers marketing to customers before they have obtained advice. To improve customer outcomes, we believe that the industry must work together to demonstrate the value of the guidance service and the benefits of regulated advice.”