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Best Options when transferring my AVC
wrexpluss33
Posts: 2 Newbie
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
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Comments
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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.0 -
Yes it is a defined benefit pension and yes only option is an annuity
Thanks0
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