AVC Disinvestment

[Jack_Walsh]

I retired on December 5th 2020.At the time of receiving my letter from CAPITA with my pension figures it states my AVC fund stood at £23,855 (letter dated December 24th) at March 9th when it was all withdrawn it stood at £28,640 an increase of 20%. The letter states that they may receive additional information of the final value of the AVC which could lead us to recalculate your benefits and result in Overpayment/Underpayment of your benefits.
Should I receive any more money

[RobertT]

You don't say how much you've actually received, but I assume it's the £23,855?

I believe when AVC's are first paid out, they only actually pay around 90% of the total at the time, to allow for any fluctuations in value before all of the money is disinvested. With the remainder being paid when the final figures are known.

It sounds to me as if that's the case here?

My advice would be to check your paperwork and then contact Capita for clarification.

[Jack_Walsh]

Thanks Robert

[fly-catchers]

The remainder of my AVC was paid in May along with the revision of my NRA60 pension I took in January 2018. Have you had your pension revision letter yet Jack?

[Jack_Walsh]

No letter yet mate

[Jack_Walsh]

You don't say how much you've actually received, but I assume it's the £23,855?

I believe when AVC's are first paid out, they only actually pay around 90% of the total at the time, to allow for any fluctuations in value before all of the money is disinvested. With the remainder being paid when the final figures are known.

It sounds to me as if that's the case here?

My advice would be to check your paperwork and then contact Capita for clarification.

Rang Capita today who said we don't deal with the actual paying out of AVC'S, told me to ring RMPP who told me to ring Capita

[fly-catchers]

Have you logged onto the Scottish Widows site to see what it shows? Overall I would say it is RMPP who should be dealing with it.

[Jack_Walsh]

It's all sorted now mate been paid in this morning

[fly-catchers]

Result!