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

Read our latest and older news articles here


Back to News Articles

LV= introduces tiered charging structure on personal pension

03 February 2020 | Press release

LV=, the retirement and protection specialist, is introducing a tiered charging structure on its personal pension.

Charges on the LV= Flexible Transition Account will be reduced for customers investing more than £100,000, and a client investing £300,000 into an LV= pension would pay a total annual wrapper charge of £650 – saving £100 a year. Overall charges on pensions worth £50,000 will rise from 0.25% to 0.3%. The changes will be introduced on 3rd February 2020.

New tiered charging structure

Investment amount

Old charge (0.25% to £1m – 0.1% over)

New Charges



0.30% £150



0.25% £250



0.23% £450



0.22% £650



0.21% £1,450



0.145% £1,450

*No charges are levied on investments amounts over £700,000. In this example using a £1m pension fund, 0.215% (£1,450) charge is applied to first £700,000 and none to remaining £300,000. The charge on the whole £1m pension is equivalent to 0.145% (£1,450).

The new charges apply on all contributions invested in LV=’s range of 220 insured funds, including passive and active funds. With investment charges starting from just 0.05% the fund range includes:

  • LV= Smoothed Managed Funds with two unique levels of investment protection and reduced wrapper charge of just 0.15% when 100% invested in these funds. (LV= is waiving the first year pension wrapper charge of 0.15% for clients who invest 100% in our Smooth Managed Funds by 5 April 2020)
  • Funds from five of the leading passive fund managers including Blackrock, Fidelity and Vanguard
  • Discounted rates on many funds, including the LGIM Multi Index Funds for just 0.24%
  • A selection of Environment Social Governance (ESG) funds – active and passive and with a range of different risk ratings

Clive Bolton, managing director at LV= Savings and Retirement, said:

“These changes are another example of how LV= is evolving to support mass-affluent customers in the post Pensions Freedoms market, and throughout 2020 we’ll be introducing a series of improvements as we continue to develop our range of pensions, investments and retirement products. These latest changes make the LV= more competitive, particularly for those with pension funds above £100,000.”

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