Last updated4th May 2014

Reviews

Read reviews for the LV= Flexible Transitions Account

Charges

Charges are not subject to VAT
Initial/Set up feeNone
Annual fee£0 - £75,000, 0.55%

£75,000 - £350,000, 0.35%

£350,000 - £1,000,000, 0.2%

A low cost option is also available at 0.25% with restricted fund manager access and subject to other terms and conditions
Transfer in feeNone
Transfer out feeNone
In-specie transfer in feeNone
Income DrawdownInitial: None

Ongoing: None
Additional Income Drawdown feesNone
Annuity purchase feeNone
Payment of death benefits feeNone
Other feesNone

Management

Access: Direct or via IFAVia IFA only

Online capability

DetailsThe 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
Overseas property
Unit trusts & OEICSLimited range of platforms allowed
External deposit accountsUnrestricted access to all 'sippable' deposit accounts
Overseas listed stock and sharesLimited range of stockbrokers
UK listed stocks and sharesLimited range of stockbrokers
AIM sharesLimited range of stockbrokers
Gilts/corporate bondsLimited range of stockbrokers
ETFsLimited range of stockbrokers
Investment trustsLimited range of stockbrokers
Discretionary managementUnrestricted access
National Savings & Investments
Unlisted shares
Structured products
Trustee Investment Plans
Insurance company pension fundsMinimum of £3,000 must be held in insured funds (range of 160 to choose from)
Hedge funds
Traded endowment plans
Intellectual property
Brands / Trademarks
Goodwill
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 feesLease renewal / new lease, £123

SIPP Bank Account

SIPP bank account providerRoyal Bank of Scotland
Current interest rate0%

Structure

Scheme trusteesNM Pensions Trustees
Scheme administratorNM Pensions Trustees

Minimum contributions

Regular payments£250 per month
Transfers/Single Premiums£10,000
Min additional£1,000 lump sum

£25 per month

Company Information

OwnershipLiverpool Victoria Friendly Society
Year establishedLiverpool Victoria Friendly Society Limited was founded in 1843
Funds under management£2.4 billion
Number of SIPPs administered12,500
Defaqto Rating
Not available

Transfers

Accepts transfers from defined benefit / final salary schemes?Yes, if IFA advised

Misc

Flexible Drawdown offeredYes
Scheme Pension offeredNo
Notes

Need advice on your SIPP?

Contact our team of SIPP specialists today:

0115 933 8433

info@investmentsense.co.uk

Online enquiry form

LV= Flexible Transitions Account

Liverpool Victoria was established in 1843 as a Friendly Society and now has its head offices in Bournemouth.

LV (Liverpool Victoria) provides savings, investments and insurance products across the United Kingdom with their SIPP (Self Invested Personal Pension) known as the Flexible Transitions Account.

The LV Flexible Transitions Account is only available through Independent Financial Advisers (IFAs) and has a percentage based charging structure with the actual fee payable dependent upon the amount you invest in the SIPP.

The SIPP provides access to a wide range of investments, although hedge funds and unlisted shares are not allowed within the LV SIPP.

The minimum monthly contribution to the LV Flexible Transitions Account is £250, unless a lump sum of at least £10,000 is paid in, at which point the minimum monthly payment falls to £25.

The mandated SIPP bank account is held with Royal Bank of Scotland but does not currently pay any interest.