CSAVCs and Stakeholder pension

Camdoon

I have funds in a Civil Service Additional Voluntary Contributions policy with Scottish Widows and more in a small stakeholder pension with Standard Life.

I am thinking of starting a SIPP and believe that there are no retained benefits with the AVC and could transfer both into the SIPP without penalty. Is this so?

I am over 55 if that makes a difference.

xylophone

http://www.civilservice.gov.uk/wp-content/uploads/2011/09/CSAVCS_1-2011_tcm6-1841.pdf

Camdoon

Thanks for this. Bit ambiguous as it talks about if you resign but I am assuming I will be able to move when required.

xylophone

but I am assuming I will be able to move when required.

It would seem so from this http://www.civilservice.gov.uk/wp-content/uploads/2011/09/6_3_tcm6-1560.pdf

on page 48

The CSAVC Scheme was amended following a relaxation by HM Revenue and Customs (HMRC) on 30
June 1999; and as a consequence, staff may treat their CS AVCs independently from their main (CSPS)
scheme benefits. CSAVC funds may be transferred with the main scheme benefits or independently to
another UK pension scheme or arrangement that is registered by HMRC or to a Qualifying Recognised
Overseas Pension Scheme (QROPS). CSAVCS benefits can also be left in the CSAVC Scheme while the
main scheme benefits are transferred.