Pension calculator LV= hails 'adaptable product'

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Pension calculator LV= hails 'adaptable product'

Tue 14th Sep 2010

The Flexible Transitions Account from LV= has been lauded for its adaptability by a source at the company, with a more basic edition of the tool available for the rest of the year.

Ray Chinn, head of pensions at the firm, noted that many people often take out a SIPP without using all the features it boasts, whereas this proposition gives people the opportunity to upgrade if they think they need access to more funds.

The LV= Flexible Transitions Account will be available with a 0.25 per cent reduction in the annual service charge for the rest of 2010 for customers who want the more basic version of the product.

"Although the discounted FTA options are narrower we feel that the range of funds on offer will cover many people's requirements and we are pleased to able to offer these at lower cost," he said.

This month, the same LV= representative urged the Treasury to create a stable and simple pension tax relief system.

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