Topping up LGPS pension contributions due to sick leave and AVC’s query

SarahB16

OldBeanz said:

SarahB16 said:

OldBeanz said:

SarahB16 said:

OldBeanz said:

Your AVC is most valuable when you take it at the same time as your main benefits as within very high limits it will all be tax free. You can draw the funds any time after 57 but subject to pension withdrawal rules and tax.

Thank you that's very helpful to know. 

I believe AVC's are defined contributions - do you know where I can see what the options are for the investments in terms of which funds I wish to invest in?  Do you know what I need to ask HR so that I can see this choice of funds?    

Each local authority can chose their own provider. Prudential are one of the largest (going by the posts on here). Like most providers they  offer low to high risk options with derisking options over the years prior to claiming. Google is your friend for your LA provider or worth looking at the pru as they check if you are with a relevant LA. They admit their service has been appalling but do sort things out eventually along with compensation.

I have checked and I am in the Westminster City Council LGPS and this pension fund is administered by Hampshire Pension Services but looking on their website I can't seem to find details of which funds are available to invest in for AVC's.   

On a slightly separate topic I presume AVC's are far more preferable compared to making APC's (additional pension contributions)?   

Thank you very much for the replies so far I really do appreciate the help.  

Googling 'Hampshire LGPS AVC' suggests they are in cahoots withe the Pru. I would think your authority, if outsourced to there, will be the same.

Thank you.  It's probably best if I just give them a call when I get chance as my LGPS is the City of Westminster.