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Protected Retirement Plan

The new pension freedoms that came into effect from April 2015 have helped in giving your client far more flexibility for when and how they can access their pension savings. The LV= Protected Retirement Plan offers more flexibility and access to your money than a standard annuity by providing a guaranteed income option for a fixed term (rather than for a lifetime) which you can also cash in at any time.

Plan features at a glance
  • Our Protected Retirement Plan is available on its own or as part of our blended solution, the LV= Retirement Account.
  • Minimum investment of £10,000 (after any pension cash lump sum).
  • Guaranteed income over a fixed term up to 25 years (minimum term applies).
  • Flexi-access drawdown allows clients to choose the income they need when the plan starts, without any restrictions on the amount. A capped to capped drawdown option is also available, subject to max GAD limits.
  • Once your client's plan starts they can't change it. However our conversion feature allows a transfer out to another retirement product, to reinvest in another plan or take as taxable cash, at any time, for any reason.

More on client eligibility

Important information
  • If your client chooses a level annuity, it won’t keep up with inflation and may buy less in the future.
  • We guarantee the amount payable at the maturity date, but can’t guarantee the income this will provide as this depends on the economic and investment conditions at the time.
  • The income and maturity value from this plan are fixed at outset and are guaranteed, if held for the plan term. However, your client may obtain higher returns holding investments that don’t provide these guarantees.
  • Unless your client chooses otherwise, any annuity payments will stop if they die before the maturity date, which may result in inadequate provision left for their beneficiaries.
  • The value of the plan may be significantly less than the guaranteed maturity value or the original investment amount if the conversion feature is used in the early years.

Meeting almost every client need

Whether as a standalone product, or combined with other solutions, our Protected Retirement Plan could be the perfect solution for your clients to meet a variety of needs. Download our client scenario pack to see how.

How to buy

To apply for the Protected Retirement Plan, please download an application form.

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FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK