Enhanced Annuity:
Initial charge - Y
Regular premium initial charge - N/A
Ongoing charges - N/A
Ad-hoc charged - N/A
Fixed term annuity
Initial charge - Y
Regular premium initial charge - N/A
Ongoing charges - N/A
Ad-hoc charged - N/A
Investment-linked annuity
Initial charge - Y
Regular premium initial charge - N/A
Ongoing charges - N/A
Ad-hoc charged - N/A
SIPP
Initial charge - Y
Regular premium initial charge - Y
Ongoing charges - Quarterly only
Ad-hoc charged - Y
Flexible Guarantee Bond Series 2
Initial charge - Y
Regular premium initial charge - N/A
Ongoing charges - Monthly, quarterly, yearly, half-yearly
Ad-hoc charged - Y
Pipeline and commission:
SIPP, annuity and Flexible Guarantee Bond quotes can be requested up until and including 30 December 2012 on a pre RDR commission basis. If a re-quote is requested or the application is then received by LV= after this date, as long as the original quote is dated before 31 December 2012 it can be processed on commission terms, provided no further related advice has been given. Flexible Guarantee Bond applications must be completed before 9 February 2013, and SIPP and annuity applications before 6 April 2013, otherwise they will need to be charged on a post RDR basis.
Quotes for LV='s SIPP, annuities or Flexible Guarantee Bond requested on or after 31 December will automatically be on a post RDR charging basis.
Phil Brown, LV= Head of Retirement Proposition, said:
"The implementation of RDR means that many advisers are having to remodel their businesses. We hope that by announcing our RDR proposition well ahead of the December deadline, we are providing advisers with much needed clarity and certainty as to how we will facilitate adviser charging."
"We are keen to support advisers through this change and alongside our dedicated RDR web pages that will be regularly updated as the deadline approaches; we will soon be announcing an RDR webinar for advisers."
