Additional Voluntary Contributions

If you paid Additional Voluntary Contributions (AVCs) you will normally have an AVC fund with the Prudential Assurance Company Limited which will provide you with additional benefits.

You can take your AVC benefits at any time from age 55. There are different options including:

1. Buying an annuity.
2. To provide all or some of your BCSSS tax-free cash on retirement (you can only do this if you are taking your BCSSS pension at the same time).
3. Taking the whole of your AVC fund as a cash lump sum, the first 25% will be tax free, and the remaining 75% will be added to your income in the tax year you take it and you will be taxed accordingly. You don’t have to take your AVCs at the same time as you start to draw your BCSSS pension, you can take both benefits at different times to suit your circumstances.

If you need help deciding what to do you can get help from Pension Wise, a service set up by the Government to provide free and impartial guidance to help you understand what you can do with your AVC pension pot.

To contact Pension Wise call 0800 138 3944 or visit

AVC Statement

The value of your AVC benefits and an illustration of what they might be worth at your Normal Retirement Age (NRA) (usually 60) will be sent to your home address usually in June each year.

AVC benefits on death

If you die before taking your AVC benefits the value of your AVC fund will be payable to your dependants.