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.