RNPFN

LV= acquired the RNPFN business on 31 December 2001. For more information on the transfer to Liverpool Victoria in 2001 see the scheme of transfer document.

Following the transfer in 2001, all RNPFN policies were held in a fund separate from the rest of LV’s business. This fund is called the RNPFN Fund which was set up to hold all the remaining policies of the Royal National Pension Fund for Nurses.  Following the transfer in 2001, the interests of all RNPFN policyholders were looked after by a Supervisory Board that was set up at that time. 

On 2 January 2020 Liverpool Victoria Friendly Society Limited became Liverpool Victoria Financial Services Limited, a mutual company limited by guarantee. 

During 2021, in order to continue to manage the RNPFN Fund fairly for its with-profits policyholders, a decision was made to move all non-profit RNPFN annuities and unit-linked policies out of the RNPFN Fund and into the Main Fund of Liverpool Financial Services Limited (LVFS). This move was supported by the RNPFN Supervisory Board and was completed on 30 November 2021. The LVFS Board of Directors remains responsible for the supervision and management of all RNPFN policies, but following the move the RNPFN Supervisory Board no longer monitors the management of the annuity and unit linked policies transferred.  All customers with these policies were written to in the second half of 2021 to explain the change did not impact their policies. 

The administration of all RNPFN policies is carried out at the LV= head office in Bournemouth.

All RNPFN policyholders are members of Liverpool Victoria Financial Services Limited and are entitled to the range of member benefits though they do not qualify for mutual bonus or one-off bonus which are only paid to members with a policy invested in the LVFS With-Profits Fund. More information on member benefits

Since 1994 we've lost touch with around one million of our members and we're on a mission to reconnect with those of you who've been hidden by the sands of time.

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As of April 2024 the asset management of our funds has been undertaken in partnership with BlackRock, one of the world's largest asset managers. Although we outsource the asset management behind the Smoothed Managed Funds, the responsibility for producing strong risk-adjusted investment returns for policyholders rests with LV=.

BlackRock is one of the world’s largest asset managers with $10trn of assets managed globally (source: BlackRock as at Jan 2024). 

Each year we provide information on our website on how the RNPFN with-profits fund and Managed Growth Fund have performed and the assets they invest in. This investment information can be found on the RNPFN with-profits fund and RNPFN Managed Growth Fund pages.

For those invested in the RNPFN with-profits fund we also produce an Annual Review that includes a message from the Chair of the RNPFN Supervisory Board, bonus information and comparisons to show how the RNPFN with-profits policies have performed. The Annual Review can be found on the RNPFN with-profits fund pages.