Coronavirus - pensions

Covid-19 update and your pension

At this extraordinary time, our thoughts and concerns are with the ones we love and everyone’s health and wellbeing. But if you have an investment with us, in our smoothed managed fund range, you may be thinking about how it could be affected.

You will have seen and felt the significant volatility and reductions in markets around the world as concerns about the effect of Covid-19 took hold. No-one can be sure, but given the uncertainties around how the virus will spread and the impact it will have, it seems likely that we should anticipate that this market volatility will continue.

We completely understand that the current situation will naturally cause worry.

Answers to questions you might have about your pension with LV=

I applied for a new LV= product but I haven’t heard anything. What should I do?

We’re still accepting new business and processing any applications but it may be taking us slightly longer to do this. We’ll be in touch as soon as possible. If you’d like to know the progress of your new product please contact us.

I can’t contact my financial adviser as they're in self isolation. What should I do?

Most financial advisers have set up alternative contact details so try these first.

However if you have a query about your LV= policy application, please contact us and we’ll respond as soon as we can.

I’ve got a policy with LV= but can’t find the policy documents

Please contact us by email or phone and we can send out new documents to you.

I’ve just had a call from LV=. How do I know it’s genuine?

Sometimes we’ll call our customers to resolve a query. However it is right to be wary of calls that might be bogus. The best thing to do is take the caller’s name, hang up and ring back using our switchboard number which is 0800 678 1680. If the call has come from one our team here at LV= the switchboard operator will be able to transfer your call over to them.

Please bear in mind that we will never ask you to confirm your bank account details over the phone. You should never clarify or give your bank details to anyone over the phone.

How will I know how my pension / investment is performing?

It is best to speak to your financial adviser for the latest advice.

Is it possible that my pension / investment has fallen in value?

It is possible that your pension and/or investment has or will be affected by market uncertainty, however this depends on how exposed your funds are to equity markets. If you’re concerned about how your pension or investment could be affected you should speak to your financial adviser.

Should I make any changes to my pension / investment?

It is completely natural for people to worry. However it’s also important to bear in mind that spur-of-the-moment choices also carry risks. Even in these uncertain times taking the longer-term view into account remains a sensible perspective to take. If you’re concerned about how your pension or investment could be affected or if you’re thinking about making any changes, you should speak to your financial adviser before doing anything.

Will I still receive any payments from LV=?

Absolutely. For anyone who is already receiving an income payment from us, for instance for a pension or an annuity, these will continue as normal.

Can I cancel or stop any payments I am making for a pension or investment policy?

We urge you to think about any steps you take, as these are likely to have longer-term implications. If you are still worried or concerned we suggest you speak to your financial adviser first.

I’m worried about fraud and scams - do you have any advice?

Criminals never sleep and they are sadly using Covid-19 as another opportunity to benefit.

Please check out the information on fraud and scams.

I want to understand more about my policy?

Of course. You can take a look at your terms and conditions to see the features of your product. Or you can contact us and we can tell you. If necessary you can also talk to a financial adviser about what plans you could put in place for the future.

I’m struggling to make ends meet. Can you help?

There is a lot of support out there which you can read about and we have a Member Support Fund which might also be able to help.

Get in touch

The first person you should contact is your financial adviser

If you haven’t got one you can find a list of professionals in the link below.

https://www.unbiased.co.uk

You should know that they do charge a fee for their services and obviously they won’t be able to come to your home until the Covid-19 lockdown is lifted.

Get in touch with us about your pension

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