Press release

LV= response to Government consultation on new public financial guidance body

Philip Brown, Head of Policy at LV=, said: “It’s vital that people have access to high quality, impartial guidance to help them with important financial decisions and this is a golden opportunity to ensure consumers have this support.

“Following the vast number of pension reforms in recent years, helping people with retirement should be a main focus for the new body and we’re pleased to see it will cover both occupational and personal pensions. We want much better promotion of guidance as the key starting point for people approaching retirement, and the pensions information the new service provides to be accessible to everyone - whether they are about to draw their pension or just starting to save.

“We also believe the new body should include a dispute resolution service – like the one currently offered by The Money Helper – as well as retaining the Money Helper comparison tables, as this is the only truly impartial comparison service available for consumers.”

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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