The provider will have an initial charge on all of its products including its enhanced annuity, fixed-term annuity, investment-linked annuity, self invested personal pension and flexible guarantee bond series 2.
Sipp, annuity and flexible guarantee bond quotes can be requested up until and including 30 December 2012 on a pre-RDR commission basis. If a re-quote is requested or the application is then received by LV= after this date, as long as the original quote is dated before 31 December 2012 it can be processed on commission terms, provided no further related advice has been given.
Flexible guarantee bond applications must be completed before 9 February 2013, and Sipp and annuity applications before 6 April 2013, otherwise they will need to be charged on a post-RDR basis.
Phil Brown, LV= head of retirement proposition, said: “The implementation of RDR means that many advisers are having to remodel their businesses. We hope that by announcing our RDR proposition well ahead of the December deadline, we are providing advisers with much needed clarity and certainty as to how we will facilitate adviser charging.”