LV= advice

LV= offer two options for advice:

Workplace advice

Workplace advice is a restricted advice service that relates only to your pension savings with Legal & General.

If you choose this option, LV= can give advice on the pension savings you hold with Legal & General. They will advise upon how much income you could receive at retirement and discuss your options for taking that income from your pension savings, using products such as flexi-access drawdown and annuities from the whole of market, including Legal & General.

This is the lower cost, fixed price solution for members requiring advice solely on their Legal & General pension savings.

Full retirement advice

Full retirement advice considers your total financial position including all of your pension and investment savings as well as, other assets and income sources. The amount you pay for advice with LV= will depend on how complex your requirements are.

If you choose this option, LV= can give advice on all the pension and investment savings you hold. They will advise upon how much income you could receive at retirement and discuss your options for taking that income

In addition, LV= can give advice on pension consolidation (bringing multiple pensions into a single pot) and whether transferring a defined benefit scheme to a defined contribution scheme would be beneficial to you.

You may be able to pay for advice services directly from your pension pot, depending on your scheme rules. This is called a facilitated adviser charge and you must have enough money in your pension pot to pay for this.

Ongoing advice

Once you've received your initial financial advice from an LV= adviser, you’ll have the opportunity to continue to receive their support via an ongoing advice service.

With this option you’ll have ongoing access to a financial adviser to help guide you through important financial decisions and they can continue to review your pension savings on an annual basis. LV= will confirm the terms of the ongoing advice service with you, which you can cancel at any time.

Legal & General do not earn any fees from the introduction. The facilitated adviser charge is not available to fund ongoing advice.