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Protected Retirement Plan

The new pension freedoms that came into effect from April 2015 have helped in giving your client far more flexibility for when and how they can access their pension savings. The LV= Protected Retirement Plan offers more flexibility and access to your money than a standard annuity by providing a guaranteed income option for a fixed term (rather than for a lifetime) which you can also cash in at any time.

Plan features at a glance
  • Our Protected Retirement Plan is available on its own or as part of our blended solution, the LV= Retirement Account.
  • Minimum investment of £10,000 (after any pension cash lump sum).
  • Guaranteed income over a fixed term between 3 and 25 years.
  • Flexi-access drawdown allows clients to choose the income they need when the plan starts, without any restrictions on the amount. A capped to capped drawdown option is also available, subject to max GAD limits.
  • Once your client's plan starts they can't change it. However, the conversion feature allows them to transfer out to another retirement product, or take as taxable cash, at any time, for any reason, as long as financial advice has been given.

More on client eligibility

Important information
  • If your client chooses a level annuity, it won’t keep up with inflation and may buy less in the future.
  • We guarantee the amount payable at the maturity date, but can’t guarantee the income this will provide as this depends on the economic and investment conditions at the time.
  • The maturity value from this plan may be less than if your client’s pension fund was invested in a drawdown pension.
  • Unless your client chooses otherwise, any annuity payments will stop if they die before the maturity date, which may result in inadequate provision left for their beneficiaries.
  • The value of the plan may be significantly less than the guaranteed maturity value or the original investment amount if the conversion feature is used in the early years.

Meeting almost every client need

Whether as a standalone product, or combined with other solutions, our Protected Retirement Plan could be the perfect solution for your clients to meet a variety of needs. Download our client scenario pack to see how.

How to buy

To apply for the Protected Retirement Plan, please download an application form.

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LV=, County Gates, Bournemouth, BH1 2NF, UK