How does an AVC pay out?

dunstonh

An AVC is a specific product.  Its a bolt on to a defined benefit pension.  You would need to be an active member of the defined benefit pension to be in the AVC.

That screenshot doesn't make any reference to being an AVC.   It looks more like the Kingfisher pension scheme which is defined contribution and replaced their old DB scheme.  L&G is the provider used for the defined contribution pension.

The Kingfisher final salary scheme closed in June 2012.  So, no AVC should be available for new contributions. 

DRS1

dunstonh said:

An AVC is a specific product.  Its a bolt on to a defined benefit pension.  You would need to be an active member of the defined benefit pension to be in the AVC.

That screenshot doesn't make any reference to being an AVC.   It looks more like the Kingfisher pension scheme which is defined contribution and replaced their old DB scheme.  L&G is the provider used for the defined contribution pension.

The Kingfisher final salary scheme closed in June 2012.  So, no AVC should be available for new contributions. 

I confess I had read her post the other way round.  She was employed for a period when she would have been in the Final Salary section only and not the Money Purchase Section.  Given that AVCs are invested on a money purchase basis I think it is likely the £10k is her AVC fund.  But as others said at the start it may be best to check with the administrator - not helped by the fact that the two sections have different administrators.

DRS1

I must admit I had hoped for more from the How is it calculated bit - details of what contributions were paid when for example.

Whiterose23

I will call them to find out what’s what. The earliest transaction is in 2018 when just over £6k was transferred into it. I don’t recall it.