Aviva terminal bonus

scott_lithgows

Have been paying into a savings plan since 1983 about £20 a month.
Latest statement says it's worth approx £21.5k with 18 months to go.
Due to a change in my working hours,I'm now looking to use this money to leave my job rather than working on for 5 more years.
Is there a chance of a terminal bonus on this? And if so,how much roughly do think I will walk away with?
Really hoping to get 30k so I can get back to going to the football on season 2025/6!

wmb194

scott_lithgows said:

Have been paying into a savings plan since 1983 about £20 a month.
Latest statement says it's worth approx £21.5k with 18 months to go.
Due to a change in my working hours,I'm now looking to use this money to leave my job rather than working on for 5 more years.
Is there a chance of a terminal bonus on this? And if so,how much roughly do think I will walk away with?
Really hoping to get 30k so I can get back to going to the football on season 2025/6!

What do the terms and conditions of the savings plan say? 

Ayr_Rage

There is absolutely no way anybody here can answer your question unless you tell us what the actual product is and if the Ts and Cs are available online or you post them.

dunstonh

Is there a chance of a terminal bonus on this?

It depends on your type of plan and what version it is.  Along with the legacy company it was with.  In reality, the vast majority of people posting here will not have strong off-the-top-of-their-head knowledge of 1983 products.

With most plans that invest in With Profit, the final bonus accrues as you go along, and you can see what it is by comparing the current value to the surrender value.   With older conventional With Profit plans, they can add more on at the end.

 And if so,how much roughly do think I will walk away with?

Impossible to answer as it needs a crystal ball.

scott_lithgows

It's the Aviva FPLAL with profits sub fund
Sorry it's been a bit vague, until last Monday this was only going to be to go holidays but now it's my passport out of my employment 

Beddie

scott_lithgows said:

It's the Aviva FPLAL with profits sub fund
Sorry it's been a bit vague, until last Monday this was only going to be to go holidays but now it's my passport out of my employment 

Give Aviva a call on Monday and they will tell you all you need to know. It's impossible for anyone on here to have more than a rough idea. Hope it's good news!

scott_lithgows

Beddie said:

scott_lithgows said:

It's the Aviva FPLAL with profits sub fund
Sorry it's been a bit vague, until last Monday this was only going to be to go holidays but now it's my passport out of my employment 

Give Aviva a call on Monday and they will tell you all you need to know. It's impossible for anyone on here to have more than a rough idea. Hope it's good news!

Actually a rough idea is fine! I know I will get at least 22k, about 50% of that was the original sum assured,50% added on bonuses.
Trying to have 60k in the bank on my 60th birthday,if this comes up short of the 30k that I am hoping for,then it means I have to save more of my wages before that.
Or a part time job is needed, changing my hours has changed all my plans overnight 

wmb194

scott_lithgows said:

It's the Aviva FPLAL with profits sub fund
Sorry it's been a bit vague, until last Monday this was only going to be to go holidays but now it's my passport out of my employment 

Have a look at the 'bonus' pages of the document linked below but you'll need to ask Aviva. These sorts of investments are extremely old fashioned and opaque. How much will the final bonus be? It depends on the direction of the wind and how Aviva is feeling in the moment.

https://static.aviva.io/content/dam/document-library/adviser/ecm/hl07001c.pdf