press release

LV= responds to FCA’s latest data on trends in the retirement income market

Philip Brown, Head of Policy, LV= said: “Today’s figures published by the FCA highlight the worryingly low number of people taking advice and exercising choice at retirement. We believe that in order to get the most from their money, people should be encouraged to take financial advice and review their options for the best retirement solution. It's vital Government and industry work together to make sure we support consumers and signpost them to advice so they can make informed decisions at such an important time in their lives. We believe the creation of a new single financial guidance body is a good first step in tackling the issue of people retiring without support.”

About LV=

LV= employs over 6,000 people and serves over 5.8 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 are currently the UK's number one brand for Insurance and Investments, according to the 2015 YouGov Brand Index Buzz Rankings.

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.

Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. LVFS is a member of the ABI, the AFM and ILAG. Registered address: County Gates, Bournemouth BH1 2NF.

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