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LV= launches pensions microsite for advisers

Press release: 23/01/2012

Retirement specialist LV= has launched a new pensions microsite to provide advisers with greater clarity on forthcoming technical changes to pensions legislation.

The site focuses on changes in four key pensions areas - lifetime allowance, contracting out, flexible drawdown and the new carry forward rule and aims to highlight the key issues; which clients will be affected; and which types of clients to approach to help advisers maximise business opportunities.

For instance, the current lifetime allowance of £1.8m will be reduced to £1.5m from 6 April 2012. Fixed protection rules enable clients to fix their protected lifetime allowance at £1.8m, but they must do so before 6 April. Getting this right could avoid a significant tax bill at retirement.

Through a link on the website advisers can also ask LV= any questions they have about the technical changes or just general pension queries.

Ray Chinn, LV= Head of Pensions said: "There is a good opportunity for advisers, in the run up to the end of the tax year, to assess their clients’ position in relation to the technical changes coming into force. We understand that many advisers are busy preparing for the bigger regulatory changes ahead such as RDR, so we designed this website to make it easy for advisers to quickly identify the impact these pension-specific changes could have on their clients' pension plans, before it’s too late."

About LV=

LV= employs 5000 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.