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New team created at LV= to lead retirement solutions product development

Press release: 16/05/2014

Retirement specialist LV= has created a dedicated research and development team to develop new products and innovative solutions designed to help consumers benefit from the new pensions landscape which was announced in the Budget.

The team of three will be headed up by Michelle Cutler who has been appointed Head of Research and Development. The team’s responsibilities will include researching new retirement income solutions and delivering new product propositions. LV= was first to market with a one-year annuity only 10 days after the Budget announcement and is well positioned to quickly develop and launch products for the new landscape. LV= already offers a wide range of retirement solutions products and the new solutions under development will compliment these and work well as blended solutions, an option which is likely to become increasingly popular.

Michelle has been at LV= since 2011 and joined as Head of Investment-Linked Annuities. She has experience in both the annuities and retirements solutions markets. Prior to joining LV=, Michelle was at Just Retirement where she was responsible for looking after equity release products. The team will report into Philip Brown.

Michelle Cutler, Head of Research and Development: “The creation of this new team shows LV=’s focus on the right outcome for consumers. We believe that many retirees will still choose products that can guarantee their income and give them stability in the long run and my team will be focusing on developing flexible, customer friendly solutions that suit the new marketplace.”

Philip Brown, LV= Head of Retirement Propositions said: “LV= is committed to creating products that enable those in and at retirement to make the most of their pension savings and we have been first to market with many retirement propositions; including flexible drawdown and one year fixed term annuities launched just 10 days after the Budget.

“We want to ensure that we continue to offer customers innovative and quality products and the formation of this team is in direct response to the recent retirement income changes. Following the Budget announcement we want to ensure that by building on our already comprehensive suite of retirement products, we will continue to enable advisers and clients to take full advantage of the new rules.”

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For further information please contact:

Paula Nugent, LV=, 020 8256 9367, Paula.Nugent@lv.com
Addy Frederick, LV=, 020 8256 6909, Addy.Frederick@lv.com

About LV=

LV= employs 5800 people and serves over 5.5 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 trade unions.

Liverpool Victoria Friendly Society Limited: County Gates, Bournemouth BH1 2NF
LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies. LVFS is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered address: County Gates, Bournemouth BH1 2NF.