Smoothed Managed Funds Trustee Investment Plan Conversion to With Profits

LV= Smoothed Managed Funds Trustee Investment Plan (LV= TIP)

As we move towards building a secure and long term mutual future, we will be making some enhancements to the LV= Smoothed Managed Funds range.

From Monday 12 December 2022, your LV= TIP 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should be aware, however, that any mutual bonus amounts added to your plan in future will not be guaranteed, and can be withdrawn in extreme market conditions.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.

We have also enhanced your LV= TIP by increasing the range of investment options available to you. Two new funds were recently added to the Smoothed Managed Funds range –

  • Smoothed Managed TIP Extra Cautious
  • Smoothed Managed TIP Impact Growth

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 registered pension plan bank account. It can then be reinvested in other asset types within your scheme.

You can call us on 0800 032 2990 and we will be happy to help you. For textphone, please dial 18001 first. Please note your call will be recorded and may be monitored for training and audit purposes.


Important documents about the enhancements we're making

Please read the following documents on our LV= TIP for more information.
The information in these documents shouldn't be considered advice. If you're unsure, you should speak to a financial adviser.

More information on Smoothed Managed Funds Trustee Investment Plan