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LV / Bain capital - will it affect my pension ?
shilts
Posts: 82 Forumite
I have just received a letter from LV informing me of their takeover by Bain Capital . I have two ‘with profits’ pensions both with a guaranteed annuity and was wondering how this takeover could affect my pensions . It states that when the policies end the transaction will provide an uplift of up to 40% in the total capital available for increasing additional exit bonuses . Up to now my statements have always said because of the value of the ‘guaranteed annuities ‘ they were unlikely to increase on maturity . Would this still be the case and more importantly can my ‘guaranteed annuities ‘ be stopped or changed because of the takeover , many thanks ?
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Comments
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Nothing of note will change. All contract terms will be honoured.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1
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Thanks for that 👍0
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