LV= Smoothed Pension
As we move towards building a secure and long term mutual future, we'll be making some enhancements to the LV= Smoothed Managed Funds range.
From 12 December 2022, your LV= Smoothed Pension will be converted to a unitised with-profits investment. By converting the fund to with-profits, you’ll be eligible to benefit from a mutual bonus and participate in the future profits of LV=. This will be added to your plan when LV= declares that a mutual bonus is payable.
Nothing else about your plan is changing as a result of this conversion to with-profits. It will remain invested in the same fund, with the same asset allocation, the same smoothing process and the same charges.
You should be aware, however, that any mutual bonus amounts added to your plan in future will not be guaranteed, and can be withdrawn in extreme market conditions. For more information on our mutual bonus, please see our FAQs.
For more information about these new funds, and whether they may be suitable for you, please contact your financial adviser.
There is no action you need to take to benefit from these product enhancements. The conversion of your plan to with-profits will be done automatically.
In the unlikely event that you don’t want your plan to convert to with-profits you always have the option, of course, of surrendering your plan and having the money paid into your Flexible Transitions Account (LV= FTA) plan bank account. It can then be reinvested in other asset types within your LV= FTA Plan.
We've also enhanced your LV= Smoothed Pension by increasing the range of investment options available to you. Two new funds were recently added to the Smoothed Managed Funds range –
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