Examples

We've taken some common scenarios and decisions that our members face, to show how the services LV= offer could help them fully explore the options available to them, and make choices that suit their circumstances and future plans.

Mr Solomon

Mr Solomon has a Legal & General WorkSave Pension Plan from his time working in a supermarket. He also has some additional pension savings from a previous employment that are also invested with Legal & General.

Mr Solomon decides to use the workplace advice service with LV=. His adviser recommends that he uses some of his pension savings to purchase an annuity (an income for either a fixed term or for the rest of his life). This annuity, recommended from a whole of market review, will supplement his state pension and meet his outgoings.

His remaining pension savings are consolidated in an investment portfolio that matches his attitude to investment risk. This is then used to facilitate flexi-access drawdown, which provides an additional regular income and occasional lump sums, until the money runs out.

Mrs Wilkinson

Mrs Wilkinson has just retired and wants to know how best to utilise her pension. She has pension savings in a number of pension Plans managed by a number of providers.

Mrs Wilkinson decides to use the full retirement advice service with LV=. Following a full review, her adviser recommends that she consolidate her pension funds into the Legal & General WorkSave Pension Plan. Her adviser also recommends she utilise flexi-access drawdown to provide a regular income and occasional cash lump sums as and when she needs them.

Ongoing advice is also recommended to provide an annual review of the performance of her investments.