Payment of AVC funds

[arsenalbob]

Hi
Does anyone know of or had experience of how the AVCs are paid to you when taking your NRA65 benefits? I’m just coming up to 65 and trying to fill in the options form for the RMSPS part of it. As one of the options they offer a lump sum taken from the AVCs. The AVC estimate they’ve given me is way short of the amount that I’ve just checked the value of online. About 4K short. Or when I receive the options form for the RMPP part will that include the AVC shortfall missing from the RMSPS one?. Hope that’s not too confusing. Thanks

[RobertT]

AVC's should be assigned to both RMSPS and RMPP benefits.

It may also be the case that they might hold a bit back to allow for any changes in investment values between your options form and actually getting your pension benefits. With any difference being paid out shortly afterwards(possibly up to 12 weeks later?)

I await any comments from people who've actually had experience of this....

[westy23]

Good morning.
Have just received my avc payment and yes 10% is held back until approx 12 weeks
after payment to allow for investment fluctuations.

[SeanMc]

Hi, is the AVC split between RMPP and RMSPS. I am due mine soon,still waiting my options form s. However the AVC is only quoted in the RMPP?

[RobertT]

Hi, is the AVC split between RMPP and RMSPS. I am due mine soon,still waiting my options form s. However the AVC is only quoted in the RMPP?

As far as I'm aware the RMPP in Sheffield is responsible for the payment of AVC's, but obviously some will effectively be attached to benefits paid out by the RMSPS, particularly in relation to NRA60 benefits.

[arsenalbob]

Thank you for the replies. So far I’ve only received my options form from the RMSPS. About 60% of the current value of my AVCs were offered as part of two of the four options. I’m hoping the remaining 40% will appear on the options form from RMPP which I should be receiving soon. It would’ve been good to get both forms at the same time to avoid the confusion