If your policy is a Pension, Annuity or an ISA you are not able to assign your policy.
We would also not normally expect Moneybuilder type policies to be assigned as this would mean both a loss of the annuity option and the lump sum payment becoming taxable income.
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.
If you’d like information on a policy that you don’t own we may be able to arrange this, it depends on the circumstances, but we’d always need consent of the policy owner or a Power of Attorney or Court of Protection document. If you’re unsure, please call us and we’ll be happy to help.
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.
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.
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.
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 (PDF, 75KB) to print, sign and return.
The PAYE reference for a Personal Pension Plan is: 049/WZ29705
Her Majesty’s Revenue and Customs (HMRC) notify us when your tax code changes, which we then apply to your annuity. We have to use the codes that HMRC give us, so 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.
If you are interested in increasing the amount you save into your existing LV= With Profits Life ISA or RNPFN OneISA please contact us.
You can call us Monday to Friday from 9am to 5pm on 0800 681 6293 (we will record and/or monitor calls for training and audit purposes).
Alternatively you can email us at [email protected].
Fund and bonus enquiries
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.
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.
Investment Bonds and Maximum Investment Plans are invested in the RNPFN Managed Growth Fund.
For more information on the RNPFN Managed Growth Fund please see our Managed Growth Fund pages.
With Profits Bonds, Moneybuilders, Retirement Saving Plans, Low Cost Endowments, Whole of Life policies, One ISAs, Retirement Annuity Contracts and Liberty Personal Pension Policies are invested in the RNPFN with-profits fund.
For more information on the RNPFN with-profits fund please see our with-profits fund pages.
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, one of which acts as the Chairman. There are also two members appointed by LV=.
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”.
Visit our Principles and Practices page to find these documents, along with the latest annual report on how the with-profits fund has been managed compared to the PPFM.
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.
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 pension, annuity and investment products from the Liverpool Victoria group of companies, and also offer annuities from the whole of the market and investments from a limited number of other companies.
Professional financial advisers can help you understand your options and advise you on the best choices for you.
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.
We aim to process all written queries as soon as we can. Our standard service level is 3-5 working days.