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Best Options when transferring my AVC

I am in the processing of accepting Voluntary Redundancy.  As part of the process to save tax I will be looking to transfer my severance pay (less 30k) into my AVC.  I was hoping not to use the AVCs as a pensionable income  but as an investment which would hopefully increase .  I am told I cannot do this.  Can you suggest the best options I could use to transfer my AVC  into which I could say withdraw in 5 or 10 years?

Many thanks

Comments

  • Albermarle
    Albermarle Posts: 30,473 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    To get more useful comments , you need to give more detail as there are a lot of different type of pension arrangements.
    Are you in a final salary /defined benefit scheme ( public sector maybe ) with the AVC as an add on to that ?
    It sounds like the AVC is an old one that only offers the option of buying an annuity with your money and you do not want to do that . Correct ?
    If so there are a lot of different modern pension providers you could transfer to . Some are better for more experienced investors offering a very wide range of investments  and some are more simple.
  • Yes it is a defined benefit pension and yes only option is an annuity 
    Thanks
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