Now LV= pension customers can use flexi access drawdown even if the value of their pension pot is less than £30,000.
John Perks, Managing Director of LV= Retirement Solutions, commented:
“We originally had minimum pot restrictions on our flexi-access drawdown solution reflecting how we thought customers with small pots would act. However, we have removed these restrictions to ensure that all of our customers are able to take advantage of the pension freedoms, however they wish to use them.
"We want pension savers to be able to make the most of their funds and giving all customers access to all of the flexible retirement income products we offer does just that. Typically customers with small pension pots request to take their money as a lump sum, but having the choice of flexi access drawdown means they will now have the option to take their money in a tax efficient way.”
