Standard Life AVC's

polybear

I'm currently paying Company AVC's to S.L. Can anyone tell me at what age can I start to receive the pension (if that's the correct term) from S.L.? Can I still be working, or will I have to wait until my main company pension is paid to me? Thanks.

EdInvestor

polybear wrote: »

Can I still be working, or will I have to wait until my main company pension is paid to me? Thanks.

AVCs are linked to the company scheme so you need to check the policy it has adopted on access to the money. Some compa nies allow you to take all your tax free cash from the two pensions from your AVCs, which is a good deal, if available.

royeee

Post A-Day (April 2006), one can take on retirement 25% tax free lump sum from AVCs such as Standard Life. What happens to the rest of the fund, is it that the transfer value is passed to the company pension scheme as top-op and receiving the same index-linked annual increase?

EdInvestor

Some companies allow you to add the AVC value to the f/s pension and then take the 25% tax free cash for the whole entirely from the AVC fund, devoting the f/s fund wholly to paying the pension.this is a great deal if you can get it.

Other companies require you to take the 25% from each fund separately. You still can't take AVC money separately from the main scheme, hence usually better to divert any money being paid into a low cost SIPP or PP which has no such restrictions and has competitive charges.

royeee

EdInvestor wrote: »

Some companies allow you to add the AVC value to the f/s pension and then take the 25% tax free cash for the whole entirely from the AVC fund, devoting the f/s fund wholly to paying the pension.this is a great deal if you can get it.

Your point made me check with my company pensions who confirmed this is the case.