Unable to transfer due to AVCs

Loukem

I'm in the process of trying to transfer my pension with my previous private sector employer into my current public sector employer's pensions scheme. However my previous employer says my total transfer value (main pension account and AVC account) must be transferred, but my public sector pension scheme doesn't accept AVCs into its scheme and advises new members to transfer AVCs separately into a private scheme.
My previous employer says they can't do this and it is in the Plan Rules - I have checked the plan policy document I received when joining the scheme and there is not mention that you can't transfer the main pension account and avc account separately.
As it stands the new scheme has cancelled the process because they can't accept AVCs and the only way to reactivate the process is if my previous pension scheme reconsiders and allows the two separate transactions which I will happily arrange to happen at the same time on the same day.
Has anyone come across a similar problem and if so is there any advice on ways round this problem? I have only a little money in AVCs and I certainly wouldn't have taken them out had I been warned by the pension administrators that this situation could arise.
Thanks

Linton

Can you use the AVC money to buy extra years in the new scheme??

Loukem

Hi Linton,
I'm not sure if that is possible (I'm a bit of a novice when it comes to all things pension-related). I would have thought that the new scheme might have advised that this was a possibility but I will email the advisor and ask the question.
Thanks

dunstonh

Historically, in house AVCs were linked to the main scheme. So, are so closely linked that you can use the AVC to pay the tax free cash from the main scheme (a good benefit that is usually worth keeping. Although I am sure you have already done your research on this with such a major transaction you are carrying out)

Those with tight links where benefits are shared across them, can restrict the transfer process.

jem16

Loukem wrote: »

I'm in the process of trying to transfer my pension with my previous private sector employer into my current public sector employer's pensions scheme.

Was your private sector pension a defined benefit or defined contribution scheme? It sounds like it may be Defined Benefit the way you are describing it but just to make sure.

atush

If DB can you leave it? If you can, do so.


If DC can you transfer it to a PP and then transfer it to the New pension?