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Catch up with the latest press releases from LV=

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LV= to launch capped and flexible drawdown in April

Press release: 04/02/2011

Following the Government’s announcement to remove the requirement to buy an annuity at the age of 75, LV= today confirms that from April, it will be ready to offer capped drawdown, and also accept pension transfers from those over 75 into its capped drawdown product.

Richard Rowney, LV= life & pensions managing director comments: “Scrapping the requirement to annuitise by age 75 has removed a barrier that is cited by many as a disincentive for people to save into a pension, and it will also give greater flexibility over how people can take income in retirement. At LV= we will be ready to offer capped drawdown on 6 April this year. We are pleased to announce that we will also be ready to offer flexible drawdown in April, and we will confirm the detail of our proposition over the next couple of weeks.”

“LV= is committed to offering retirement solutions to meet people’s changing needs in the changing pensions landscape, and we benefit from being able to get new products to market quickly and efficiently."

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About LV=

LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.

LV= employs around 4,000 people, serves over four million customers and members, and manages around £7.9bn (as at 30 September 2010) on their behalf, via LV= Asset Management (LVAM). We are also the UK's largest friendly society and a leading mutual financial services provider.

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.