Using AVCs at retirement

At retirement, you have a number of choices about how to use your AVCs. Most members will choose to use their AVCs to fund their tax-free cash sum at retirement which means that they don't need to give up as much of their DB pension. When you ask for a retirement quotation, the quotation will assume that you wish to use your AVCs in this way.

However, as your AVCs are a DC benefit, you also have the same options available to you as other DC section members. You can find more information about these options on the DC section of our website by clicking here.

Free guidance

The Government has launched a new ‘Pension Wise’ service to give free impartial guidance to anyone with DC pension savings. We recommend that you use this service to get guidance and support with your retirement planning decisions. If you are approaching retirement and interested in this service, you’ll find further information at www.pensionwise.gov.uk

Please note that this is only guidance and the Pension Wise service cannot provide advice.