LV= trials Treasury-backed pension passport scheme

clock

Insurer LV= is trialling a pension passport scheme in place of traditional retirement wake-up packs to boost client engagement.

The pilot scheme, put in place to better engage with people approaching retirement, has the backing of the Treasury, the business said. The pension passport is a simple document outlining how much a person has in their pension pot, in what type of scheme and any special terms - such as guaranteed annuity rates attached to their pension. To see an example of LV='s pension passport VISIT HERE. LV= head of retirement proposition and change Phil Brown said: "We are sending these to those pension savers approaching retirement in place of the current wake-up packs. "People spend a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Crucial advice issue: Death benefits detail advisers need to know

Crucial advice issue: Death benefits detail advisers need to know

Important differences from previous regime

Andrew Tully
clock 05 April 2024 • 4 min read
British Steel a stark reminder of obligations around client files

British Steel a stark reminder of obligations around client files

Lawyer Philippa Hann reflects on her work around the pensions case

Hope Coumbe
clock 27 March 2024 • 2 min read
SSAS and the general levy: A victory for common sense

SSAS and the general levy: A victory for common sense

The value of SSASs after general levy consultation outcome

Caitlin Southall
clock 26 March 2024 • 5 min read