F& W Financial Solutions Limited
Independent Financial Solutions

Licensed Victuallers Pension Trust

NOTICE

The LVPT has been operating for over 40 years. It was set up in 1965 to enable self-employed pub licensees to provide for their retirement obtaining similar tax concessions to those available to employers' pension schemes. In 1988, those tax concessions became available through Personal Pensions, so that the original objective of LVPT became unnecessary. However, the LVPT continued to operate, with the intention of encouraging pub licensees to make provision for their retirement.

The trustee company - Licensed Victuallers Pension Trust Limited - takes no commission on members' policies and has no income from any source. Over the full 40 years, its directors have given their services to the Trust entirely free.

The new pensions legislation, which becomes operative in April 2006, places very heavy liabilities and responsibilities on pension scheme trustees. Having no income, the trustee company has no means from which to meet these liabilities and had therefore, with great reluctance, concluded that it cannot continue to operate in the new legislative situation.

All members' benefits are covered by individual policies with either Norwich Union or Scottish Equitable, and all pensions arising from the Trust are paid direct by the relevant insurance company.

Any queries relating to this matter should be addressed to the trustee's managers and financial advisers F & W Financial Solutions