Tesco AVC Via Legal and General

OMAR

Hi,

I've joined at £100 per month at age 30 with a charge of 0.55% on the Standard Life Lifestyle Choices Option.

This is with a view to using the AVC to fund my lump sum at retirement.

Is there anything better?

Apologies its Standard Life NOT legal and general

Debt_Free_Chick

There's nothing better offered as a Tesco AVC. The charge is OK - but probably better than the average charge you'd pay outside of the Tesco AVC scheme.

The best thing is that when you take your AVCs you don't have to buy an annuity. You can convert your pension pot to an extra Tesco pension, which ought to give a bigger pension than buying an annuity - although it may only be slightly bigger. However, that's a bonus, which could be withdrawn at any time in the future.

Overall, it's not bad though

OMAR

Can I take my AVC as part of my lump sum....hence keep a bigger pension

Debt_Free_Chick

Yes, you can.

Full details on the Tesco Pension scheme website

OMAR

Brill....so potentially I can take the full AVC as 100% lump sum and keep my pension as normal so its pays more per month...just clarifying !