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Pru AVC Discretionary
bournefree
Posts: 118 Forumite
Before I retired from teaching at 60 this year. I paid some money into this and the fund is now worth around 14.4K. My Teacher's Pension is around 26Kpa and my State Pension at 66 will be nearly the max as I am going to pay in Class 3 NICs until then. Considering it is not a great amount, is it better to take all the Pru cash out so I can manage it as savings myself or have an annuity with the Pru (annual pension of £843 before tax) ?
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Considering it is not a great amount, is it better to take all the Pru cash out so I can manage it as savings myself
Manage it in what way?
You say savings. But taking it out of the pension to put into a savings account would be a very bad thing to do.or have an annuity with the Pru (annual pension of £843 before tax) ?
Do you need the income?
The Pru AVC supports UFPLS. So, you can always draw ad-hoc lump sums when you need some money.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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