Retirement specialist LV= has declared the first return for its investment-linked annuity (Pension Income Plus Annuity) of 3.75%, to which LV= will also apply a mutual bonus of 1%. Michelle Cutler, Head of Investment-Linked Annuities said: "Despite the tough economic climate, LV='s Pension Income Plus Annuity (PIPA) has weathered the storm and performed strongly. "The return that PIPA provides clients, coupled with the strength of our with-profits fund which has outperformed the FTSE in 5 of the last 6 years, makes it a compelling proposition. "Adviser feedback indicates increasing client interest in investment-linked annuities from those looking for an alternative to a standard lifetime annuity. As both the time spent in retirement and the cost of living rise, the chance to allow a client's fund to benefit from possible growth becomes more desirable. "In response to the greater need for flexibility in retirement, we expect to see increasingly more clients using all or part of their pension pots to purchase an annuity that offers them potential growth compared to a lifetime annuity. "LV= has continued to innovate in the retirement market. The structure of annual investment returns providing advisers and clients with greater clarity over the bonuses they can expect to receive, making it one of the strongest offerings in the market." |
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