We use cookies to make sure your experience is as good as it can be. If you’re happy with that, just continue using the site. Learn more about cookies.

skip to main content

Protected Retirement Plan

Protected Retirement Plan income options

Tailor your client's plan to help them meet their needs.

When we pay the income

We can pay your client's annuity income every:

  • month
  • three months
  • six months
  • year

Level Income

Your client can choose to have their income stay the same throughout the term of their annuity.

  • This option will provide a higher starting income than an increasing income.
  • However if your client chooses a level income, it won’t keep pace with inflation and it’s buying power will reduce in the future.

Increasing Income

Your client can choose for their income to increase each year by a fixed percentage, for example by 3%.

  1. The maximum you can choose is 8.5%.
  2. This option will provide a lower starting income but the income we pay will increase each year on the income review date.
    1. The first income review date is normally the anniversary of the date we start paying your client’s income.
    2. If they’ve already taken benefits from the pension fund they’re transferring, your client’s first income review date is the anniversary of when their maximum income level was last reviewed.

Default Income

If your client chooses this option, we’ll calculate an income level which aims to provide a guaranteed maturity value that if used to purchase a lifetime annuity, would provide an income to a similar level to that paid in this plan.

  • We’ll calculate this using our current annuity rates and will take into account any options your client has selected on this plan – such as death benefits or an increasing income.

No Income

Your client can choose not to receive any income at all.

  • In this case, we won't pay out anything unless they're still alive at the maturity date.
  • If your client dies before the end of the plan and they've chosen a lump sum death benefit, we'll pay this instead.

Product profile

A summary of the relevant product information about the customer and trustee versions of our Protected Retirement Plan, in accordance with the Insurance Distribution Directive.

Useful info

Take me to your quote and apply service

How can I contact you?


Graph icon

LV= Retirement Pathfinder

A free and impartial retirement modelling tool to help you and your clients create, view and analyse different retirement scenarios.

More about Pathfinder

Money icon

Blended Solutions

The retirement landscape has fundamentally changed for the better, giving customers more choice and control over their retirement income.

More on Blended Solutions

LV= icon

Contact us

Read more about where we're based and all of our contact information.

Contact our retirement specialists

Heart icon

LV= Retirement Account

The easy way for professional advisers to recommend and deliver a wide combination of LV= retirement income products in one simple account

More on the LV= Retirement Account

Connect with us

About retirement

Vimeo logoLinkedIn company logoTwitter icon showing a bluebird

Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237. County Gates, Bournemouth, BH1 2NF, UK