We present a system-level description of the Low Frequency Instrument (LFI) considered as a differencing polarimeter, and evaluate its expected performance. The LFI is one of the two instruments on board the ESA Planck mission to study the cosmic microwave background. It consists of a set of 22 radiometers sensitive to linear polarisation, arranged in orthogonally-oriented pairs connected to 11 feed horns operating at 30, 44 and 70 GHz. In our analysis, the generic Jones and Mueller-matrix formulations for polarimetry are adapted to the special case of the LFI. Laboratory measurements of flight components are combined with optical simulations of the telescope to investigate the values and uncertainties in the system parameters affecting polarisation response. Methods of correcting residual systematic errors are also briefly discussed.
