Here's a reminder of how AVCs work, so you can decide if changing your AVC contributions is right for you.
For more information, please read your Key Features Document in the 'Before you change your AVC contributions' section of this site.
You may need more money than you think when you retire as
If the worst happens and you pass away before you’re eligible to take your money, we’ll pay the value as a lump sum. This will normally be to your spouse, civil partner, dependants or your legal representative.
You should regularly review your AVC pot to check you're on track to achieve the lifestyle you want when you stop working. Register for our online service, or login if you already have an account, to check the value of your AVC pot online. You can also check your AVC value in your Annual Benefit Statement. Remember, if you've changed your employer at any stage and had to start a new AVC pot, you may have more than one pot to review.
You can use your AVCs to buy life cover from Prudential. For more information, please read your Key Features Document or call us for a pack. You'll find our number and the Key Features Document in the 'Before you change your AVC contributions' section of this site. Your NHS pension scheme has other options to increase your retirement benefits. Visit their website for more information.
One reason you might choose to save for your retirement with AVCs, alongside your main scheme pension, is the tax savings they offer.
Life isn’t always as simple as we'd like it to be. Some things take us by surprise and those surprises can cost money.
There’s no need to feel overwhelmed, when it comes to reviewing your AVC pot.
You have a number of options to choose from when you decide to take money from your AVC pot, which you can currently do from age 55 (57 from 6 April 2028, unless you have a protected pension age), or possibly earlier if you're in ill health.
Prudential is an international financial services company, and long established provider of life insurance and pensions in the UK.