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Prudent AVC
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Posts: 1 Newbie
Hi - I have a prudential AVC that is dormant because the facility to pay into in from the Universities Superannuation Scheme stopped 2-3 years ago. I think I can take some of it at aged 55 but actually I am looking for advice about what to do. It seems wrong for it to be doing nothing as I am not paying into it. Can I pay into it separately? Should I take it out? Can I reinvest it somehow or part of it? Any advise welcome.
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Hi - I have a prudential AVC that is dormant because the facility to pay into in from the Universities Superannuation Scheme stopped 2-3 years ago.It won't be dormant. That can only happen with bank accounts. It will be paid up. It will still grow with investment returns.Should I take it out?You cant unless you are over 55.Can I reinvest it somehow or part of it?It is invested. So, you don't need to reinvest it.It seems wrong for it to be doing nothingIt isn't doing anything. So, you don't need to worry about that.
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.1 -
Is it linked to your USS to be used as a tax free lump sum?0
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It seems wrong for it to be doing nothing
If you check the details you will see it will have been going up and down along with the financial markets.
If it is NOT linked any more with the USS scheme ( see question in previous post) you may consider transferring it to another provider, before you start withdrawing from it, for possibly some more flexibility/better customer service.
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