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Provides a secure income over a set term, with a guaranteed value at maturity

Show your clients how a Fixed Term Annuity can be more appropriate than a Lifetime Annuity

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

  • 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, there is a built-in option which 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. The transfer value available at the time isn’t guaranteed, and could be less than the guaranteed maturity value, or the original investment.

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.

How to buy

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

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08000 850 250

TextDirect: first dial 18001

8.30am - 5.30pm Monday - Friday

We may record and/or monitor calls for training and audit purposes.

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FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK