Your AVC
What's an AVC?
- As a member of the American Express UK Additional Voluntary Contributions (AVC) plan, run with Prudential, you're building up an additional pension fund for when you choose to take your benefits.
- Your Amex AVC plan is not a standalone plan; it is linked to the Amex Defined Benefit scheme.
- Your AVCs are invested in funds so they have the potential to grow over time. It also means the value can go down as well as up and you may get back less than you put in. When it comes to choosing where to invest your AVCs, there’s no need to feel overwhelmed. The 'Investment choices' section of this site will take you through your investment options to help you make a decision.
- The size of your Amex AVC plan will depend on your investment choices, the impact of charges, and how well the fund(s) you invest in perform. Even though you and American Express are no longer contributing to the plan, you'll still pay charges.
Managing your AVC
It’s important to regularly review your Amex AVC plan to make sure you’re on track to achieve the lifestyle you want when you stop working.
You can check the value of your Amex AVC plan online or in your Annual Benefit Statement. Your statement will show you many things including:
- how much money you have in your Amex AVC plan
- how your investments are doing
- what you could get when you take your benefits.
If you're not yet registered, you can do this now.
You can review your plan online even if you're no longer working for American Express. The value of your Amex AVC plan will remain invested and be paid at retirement age in the normal way.
As you approach retirement, please contact Buck, the American Express UK Pension Plan administrator, as they can let you know what options are available. You'll find their details in the 'Contact AMEX and Buck' section of the site.
If you die before retirement, the value of your plan will be paid to your beneficiaries according to the rules of your main scheme pension.
For more information, please read your key features document and your fund guide which are available online. They have important information about the risks, benefits, costs and charges of the product and funds.
More information
Investment choices
You have a choice of investment options for your Amex AVC plan. It's up to you to decide which investment option is right for your needs. Watch our 'Understanding your investment options' video for more information. These options aren't a recommendation from Prudential. If you're still unsure, speak to a financial adviser.
Taking your money
AVCs can be used in a variety of ways so please contact Buck, the American Express UK Pension Plan administrators, as they can let you know what options are available. You'll find their details in the 'Contact AMEX' section of the site.
"Prudential" is a trading name of Prudential Distribution Limited. Prudential Distribution Limited is registered in Scotland. Registered Office at 5 Central Way, Kildean Business Park, Stirling, FK8 1FT. Registered number SC212640. Authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company Limited. The Prudential Assurance Company Limited and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc, a company incorporated in the United Kingdom. These companies are not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.