LV= Flexible Transitions Account

Last updated: 22nd June 2020

Charges Charges are not subject to VAT

Initial/Set up fee

None

Annual fee

LV funds only
£0 - £25,000, 0.40%
£25,000 - £700,000, 0.20%
£700,000 + nil

DFM Only
Upto £350,000 0.35%
£350,000 - £1m 0.2%
£1m+ nil

Self-investment
Upto £75,000 - 0.55%
£75,000 - £350,000 0.35%
£350,000 - £1m 0.20%
£1m+ 0.1%

Transfer in fee

None

Transfer out fee

None

In-specie transfer in fee

None

Taking Benefits

LV funds only:
£175pa for fund over £37,500, otherwise £295pa - after PCLS
DFM only and Self-investment - no charge

Additional Income Drawdown fees

None

Annuity purchase fee

None

Payment of death benefits fee

None

Other fees

None

Management

Access: Direct or via IFA

Via IFA only

Online capability

Details

The LV= Flexible Transitions Account is designed for advised sales. With a focus on consolidation and Income Drawdown the plan offers a variety of online services for advisers, including quotes and applications, furthermore an adviser extranet is offered allowing key transactions e.g. switching, plan administration etc

Permitted Investments

Commercial property

Unit trusts & OEICS

Limited range of platforms allowed

External deposit accounts

Unrestricted access to all 'sippable' deposit accounts

Overseas listed stock and shares

Limited range of stockbrokers

UK listed stocks and shares

Limited range of stockbrokers

AIM shares

Limited range of stockbrokers

Gilts/corporate bonds

Limited range of stockbrokers

ETFs

Limited range of stockbrokers

Investment trusts

Limited range of stockbrokers

Discretionary management

Unrestricted access

National Savings & Investments

Unlisted shares

Structured products

Trustee Investment Plans

Insurance company pension funds

Hedge funds

Traded endowment plans

Third party loans

Property purchase

Purchase fee

£1,334 per property

Sale fee

£328 per property

Annual property administration fee

£528

VAT registration fee

£123

VAT return fees

£123

Other fees

Lease renewal / new lease, £123

SIPP Bank Account

SIPP bank account provider

Royal Bank of Scotland

Current interest rate

0%

Structure

Scheme trustees

NM Pensions Trustees

Scheme administrator

NM Pensions Trustees

Minimum contributions

Regular payments

£250 per month

Transfers/Single Premiums

£30,000 - with £3,000 minimum investment into LV insured funds

Min additional

£1,000 lump sum

Company Information

Ownership

Liverpool Victoria Friendly Society

Year established

Liverpool Victoria Friendly Society Limited was founded in 1843

Funds under management

£2.4 billion

Number of SIPPs administered

12,500

Defaqto Rating

Not available

Transfers

Accepts transfers from defined benefit / final salary schemes?

Yes, if IFA advised

Misc

Flexi-Access Drawdown offered

Yes

Scheme Pension offered

No

Notes

Disclaimer

The information within this section is for your general information purposes only and does not constitute investment advice. It is not an offer to purchase or sell any particular asset and it does not contain all of the information which an investor may require in order to make an investment decision. Please obtain professional advice before entering into any new arrangement. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of the information of this site.