Press release

LV= response to the FCA announcement on shopping around for an annuity

Philip Brown, Head of Policy, LV= Life and Pensions said: “Today’s announcement from the FCA that an “annuity comparator” be established in order to encourage shopping around is very welcome. We have long argued that people should be encouraged to shop around at retirement and seek regulated financial advice to make sure they get the most from their money. It is both unfortunate and disappointing that consumer switching has decreased since the introduction of the pension freedoms and this initiative from the FCA should go some way to reversing this trend.”

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.

Press contact