Just wondering would it be wise to have an AVC fund that was much larger than the 25% tax free money from the main plan?
I know most people set out to cover that so as to maintain the maximum monthly pension but what would be the options with the money left over in the AVC?
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AVC's
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RobertT
- EX ROYAL MAIL
- Posts: 6645
- Joined: 09 Sep 2007, 14:26
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AVC's
If you have money left over in your AVC you can do 1 of 3 things:
1. Take it all out as cash but pay tax on it
2. Draw it down over a period of time and possibly avoid paying tax depending on your overall income
3. Buy an annuity
There’s some more info here: http://www.royalmailchat.co.uk/communit ... 27&t=69013" onclick="window.open(this.href);return false;
1. Take it all out as cash but pay tax on it
2. Draw it down over a period of time and possibly avoid paying tax depending on your overall income
3. Buy an annuity
There’s some more info here: http://www.royalmailchat.co.uk/communit ... 27&t=69013" onclick="window.open(this.href);return false;
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