Cashing in AVC

[Wullie10]

I took the bulk of my AVC at 60 with a lump sum payment. Now whats left is about to stop and will remain invested until 65. Would I be able to claim the remaining amount as a tax free lump sum as soon a payments stop ? The money would be more use to me now rather than later.

[RobertT]

I took the bulk of my AVC at 60 with a lump sum payment. Now whats left is about to stop and will remain invested until 65. Would I be able to claim the remaining amount as a tax free lump sum as soon a payments stop ? The money would be more use to me now rater than later.

You should be able to transfer it to a personal pension and access it from there.

You may also be able to take it as a lump sum direct, with the first 25% being tax free.

Contact Sheffield for clarification.

[Wullie10]

Thank You. I rang Sheffield and apparently I can't cash in the AVC as it forms part of the NR65. But as you say I can transfer it to a private pension and go from there.