AVC Help Please

cdbhel

Sorry for my ignorance as I am new to this but am just hoping somebody can advise. I have a DB Pension and a small AVC pension alongside that. On retirement I can sever the two and take the AVC separately by moving it elsewhere or use it along with my DB pot. Is anyone able to advise how that works please and what kind of benefit I would get for a modest amount of around 25K in AVC? Does this buy me extra years? I am now redundant so will be taking my DB Pension 9 years early at the end of this year so am trying to work out whether to have this 25K as a separate pot or whether I would be better to keep it with my DB pension. I am currently intending to take a pension from my DB rather than transfer the money elsewhere. The AVC is called a 9:1 Pension Scheme but I have no idea what that really means, can anyone shed some light please? Many thanks for any help - again, sorry for ignorance on these matters. Going forward I am anticipating a situation where I can perhaps add another £8K to the AVC pot before I leave work at the end of the year, would this be the best place to put that? Many thanks in advance.

xylophone

Is the scheme booklet/AVC information on line and available to view?

Otherwise do you have a copy to hand?

If not, you will need to ask your scheme administrator for your options.

Marcon

'Somebody' can indeed help you - the people administering your scheme. Don't be afraid to contact them for help; they will be well used to dealing with queries from those who don't live in the arcane world of pensions.