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NHS AVC conversion rates?
Aceace
Posts: 391 Forumite
Does anyone know what conversion rates are currently used to convert an AVC pot to an annuity in the 2015 NHS pension scheme?
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Comments
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A quick call to NHS Pensions would get the answer immediately: 0300 330 1346Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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I finally realized, after many texts / calls to the NHS pensions helpline, that it is not possible to use an AVC pot to buy extra NHS pension.
I had assumed that it would be possible to use the AVC pot on retirement to buy extra pension at advantageous rates in the NHS pension scheme (as it is in my other company pension schemes). But, this is not the case. The AVCs in the NHS are essentially an inferior product that used to be known as Free Standing AVCs. They can be used at retirement to buy an annuity on the open market.0
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