information

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RNPFN working together with LV=

RNPFN - The Royal National Pension Fund for Nurses
  • Founded in 1887 as a provider of financial products for health professionals and their partners
  • RNPFN has been a part of LV= since 2001
Man sitting behind a green laptop with heart in the middle looking confused wearing a suit

Frequently asked questions

Policy enquiries

How do I update my information? (name, address, bank details)

  • Change of name

If your name has changed due to marriage, we'll need you to send us a letter with your policy number, full address and previous name together with the original marriage certificate.

If your name was changed by deed poll, we'll need you to send us a letter with your policy number, full address and previous name together with the original deed poll confirming your new name.

If you've noticed that there's a spelling mistake on your policy details, please contact us. We can recall the original application to double check the details. If these aren't available, we'll ask you to send your original birth certificate to allow us to amend your details.

  • Change of address

For a change of address please contact us. We can amend your address details over the phone but please have your policy number and the current address we hold on the system for you. You can also write to us but please make sure you include your policy number and previous address.

Alternatively, you can complete our online change of address form.

  • Change of bank

If you are the policyholder, and the new Direct Debit is in your name please contact us. We can normally update direct debit details over the phone.

If you don't know your new bank details yet, or the Direct Debit is to be in someone else's name, we can post a paper mandate form for you to sign and return.

You can also download a copy of the Direct Debit form to print, sign and return.

Can I deal with someone else’s policy?

If you’d like information on a policy that you don’t own we’ll need confirmation from the policy owner that they’re happy for you to deal with the policy on their behalf. This can be done over the phone or in writing.

For jointly owned policies we will need permission from both policy owners.

If the policy owner(s) are unable to give this permission we’ll need to see an original Power of Attorney or Court of Protection document. Once we’ve seen this we’ll be able to discuss the policy with the owner’s attorney.

Please see our contact us page for our address, phone number and email address.

Can I assign my policy to someone else?

If your policy is a Pension, Annuity or an ISA you are not able to assign your policy.

For all other policies: If you would like to assign your policy we have assignment forms and guidance notes on our useful documents page. You could also put your policy into trust and our trust forms and guidance notes can also be found on our useful documents page.

Before assigning or placing your policy in trust you should seek legal advice.

Why have you changed my tax code on my annuity?

Her Majesty’s Revenue and Customs (HMRC) notify us when your tax code changes. If you have a query regarding this then you should speak directly to HMRC or look at your recent Tax Code Notification.

For more information please visit the HM Revenue & Customs: Tax Codes Page

Where can I find RNPFN’s PAYE reference?

The PAYE reference for a Personal Pension Plan is: 049/WZ29705

The PAYE reference for a Retirement Annuity Contract is: 206/RAC252


Life Assurance Premium Relief

What is Life Assurance Premium Relief and how does it affect my policy?

Her Majesty’s Revenue and Customs (HMRC) pays Life Assurance Premium Relief (LAPR) of 12.5% of the yearly premium for most qualifying life insurance policies taken out before 20 March 1984 and Moneybuilder policies issued by RNPFN after this date. Government has now decided it will be stopped for future premiums. For all policies this means that premiums paid from 6 April 2015 will no longer benefit from LAPR.

Further information can be found by going to the our LAPR page


Making a claim/getting a valuation

How do I make a claim on a life policy when someone has passed away?

We need the next of kin, nominee or the executor of the will to complete a claim form.

The claim form should be returned to us by post at the earliest convenience together with policy documents (if available), a copy of the will (if applicable) and the original death certificate.

Please contact us and we can send you a form.

How do I cash-in my life policy?

Please contact us. We can often process the surrender request over the telephone but if we can’t do this we'll send you the forms you’ll need to complete.

You can also find links to the surrender forms on our useful documents page.

How do I get a transfer value for my pension policy?

Please contact us. We can normally provide you with the transfer value over the phone.

What documents do I need to send you in relation to a claim on my policy?

The documents we’ll need to see for each type of claim are detailed on our claim forms which can be found on our useful documents page.

My policy is due to mature what do I need to do?

4 weeks before your maturity date we’ll write to you to let know exactly what will happen when your policy matures. If your policy is due to mature in less than 4 weeks and you haven’t received a letter please contact us using the details on our contact us page.


Fund and Bonus enquiries

Will my policy receive a Final Bonus Enhancement?

A final bonus is added when you cash-in your policy in order to increase your payout when the regular bonuses previously added may not fully reflect the amount of growth in the fund.

For eligible with-profits policies (broadly, those taken out before 10 July 2001), final bonus rates include an enhancement designed to distribute the ‘inherited estate’ within the with-profits fund. The inherited estate is the amount of money built up in the with-profits fund that is in excess of the amount needed to pay policy benefits.

For more information please see our Bonus page.

Why am I no longer receiving a regular bonus?

After RNPFN was taken over by LV= on 31 December 2001 the RNPFN Supervisory board made the decision to no longer apply a regular bonus to conventional with-profits policies. By not adding regular bonuses, and so not increasing the level of guarantees under these policies, we can be more flexible with our investment policy which we believe improves overall payout prospects. Any benefit from this is likely to be seen in final bonuses (which may be added when policy benefits are paid) rather than regular bonuses.

What fund is my Investment Bond or Maximum Investment Plan invested in?

Investment Bonds and Maximum Investment Plans are invested in the RNPFN Managed Growth Fund.

For more information on the RNPFN funds please see our Managed Growth Fund pages.

What policies are invested in the RNPFN With-Profits Fund?

With Profits Bonds, Moneybuilders, Retirement Saving Plans, Low Cost Endowments, Whole of Life policies and One ISAs are invested in the RNPFN with-profits fund.

For more information on the RNPFN with-profits fund please see our with-profits fund pages.

Can I switch funds?

It is not possible for RNPFN policies to switch funds. For more information on the RNPFN funds please see our Managed Growth Fund pages and our with-profits fund pages.


Other enquiries

How does the RNPFN Supervisory board look after the interest of policyholders in the RNPFN Fund?

The interests of the policyholders in the RNPFN Fund are looked after by a Supervisory Board set up at the time that LV= acquired the RNPFN business. The Board monitors the management of the fund, including the investment and bonus policies, against the requirements agreed when the business was acquired.

The Board has three independent members: Peter Nowell, who acts as Chairman, David Davies and Rodney Baker-Bates. There are also two members appointed by LV=. These are currently Paul Downey (LV=’s Actuarial Function Holder) and Andy Young (LV=’s Head of Finance - LVFS).

The Board also acts as the With-Profits Committee for the fund. In this capacity, it reviews the way discretion is exercised in relation to the with-profits business in the fund. In addition, it monitors compliance with the Principles and Practices of Financial Management (“PPFM”). The PPFM is a document setting out how we manage the with-profits business in the fund. We also have a customer-friendly version called “Your guide to how we manage the RNPFN fund for with-profits business”. All RNPFN policyholders were sent a copy of this in 2012 or 2013.

Visit our Principles and Practices page to find these documents, along with a report to policyholders on the management of RNPFN with-profits business during 2015. The Supervisory Board met four times during 2015.

I would like a copy of all personal information you hold about me.

Subject to payment of a fee, if you'd like us to send you a copy of the personal information we hold about you, please write to:

CCA Department
LV=
County Gates
Bournemouth
BH1 2NF

What if I need financial advice?

If you don’t have a financial adviser you can find one in your area at www.unbiased.co.uk. Alternatively you can speak to one of the LV= financial advisers by phoning 0800 756 5837 (for Text Direct dial 18001 first), 9am to 6pm Monday to Thursday and 9am to 5pm Friday. The LV= financial advisers offer advice on a range of the protection, pension, annuity and investment products from the Liverpool Victoria group of companies and also offer protection, annuities and investments from a limited number of other companies.

Where can I find information about Liberty Pension AddPlan and Liberty Personal Pension Plan, my interest bearing policies?

Where can I find information about Liberty Pension AddPlan and Liberty Personal Pension Plan, my interest bearing policies?

As these are interest bearing pension policies this means that rather than having bonuses added, interest is added instead.

For more information please see our interest bearing policies page.

How can I trace an old policy?

If you have an old policy you’d like to trace you can use our on-line tracing form.

How quickly will my request to trace a policy take to be completed?

We aim to process all written queries as soon as we can. Our standard service level is 3-5 working days.

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