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Daily Insurance Industry News
Friday 19th of October 2018
January 24, 2012

LV= launches pensions microsite

by Gill Montia

Story link: LV= launches pensions microsite

LV= has launched a new pensions microsite aimed at providing advisers with clarity on forthcoming technical changes to pensions legislation.

The site focuses on changes in four key areas: lifetime allowance, contracting out, flexible drawdown and the new carry forward rule.

The main issues affecting clients are highlighted, helping advisers to maximise business opportunities by indicating whom to target.

For example, the current lifetime allowance of £1.8 million will be reduced to £1.5 million from 6th April 2012.

However, fixed protection rules enable clients to fix their protected lifetime allowance at £1.8 million, but they must do so before 6th April.

A link on the website also allows advisers to ask LV= questions about the technical changes or to submit general pension queries.

LV= head of pensions, Ray Chinn, comments: “There is a good opportunity for advisers, in the run up to the end of the tax year, to assess their clients’ position in relation to the technical changes coming into force.”

He adds: “We understand that many advisers are busy preparing for the bigger regulatory changes ahead such as RDR, so we designed this website to make it easy for advisers to quickly identify the impact these pension-specific changes could have on their clients’ pension plans, before it’s too late.”

 

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