LV= promises annuity pension planners cash in five days

by Gill Montia

Story link: LV= promises annuity pension planners cash in five days

LV=, the mutual formerly known as Liverpool Victoria, has promised to pay all annuity pension planners their tax-free cash within five working days of receiving all funds and/or documentation.

The move forms part of LV=’s “money where its mouth is” campaign, which it launched in February.

The society is so confident of meeting its target that it will pay annuity pension planners £1,000 compensation should it fail to deliver.

Unsecured pension plan holders already have a similar pledge in place, receiving £1,000 in compensation if they do not receive their tax-free cash within seven working days.

In March of this year, financial data provider, Defaqto, awarded LV=’s Discretionary SIPP a five star rating and its Standard SIPP a four star rating.

The ratings reflect the calibre of product design and the level of the provider’s expertise.