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AVC 25% ???

Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
Hawkey99
Posts: 568
Joined: 23 Oct 2011, 11:19
Gender: Male

AVC 25% ???

Post by Hawkey99 »

I believe I can take my NRA 60 pension but continue to pay into my NRA 65 pension and continue to pay into my AVCs.

Currently I believe I can take 25% of my total pension pot including AVCs as tax free.

My question is if I take my NRA 60 pension now, when I take my NRA 65 and AVCs will the tax free amount be of the remaining NRA 65 pension and AVC or the NRA 60, 65 and AVC combined.

Thanks
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RobertT
EX ROYAL MAIL
Posts: 6645
Joined: 09 Sep 2007, 14:26
Gender: Male

AVC 25% ???

Post by RobertT »

Hawkey99 wrote:I believe I can take my NRA 60 pension but continue to pay into my NRA 65 pension and continue to pay into my AVCs.
That is currently the case, but at the time of writing, what happens from 1st April hasn’t yet been confirmed.
Currently I believe I can take 25% of my total pension pot including AVCs as tax free.
Correct.
My question is if I take my NRA 60 pension now, when I take my NRA 65 and AVCs will the tax free amount be of the remaining NRA 65 pension and AVC or the NRA 60, 65 and AVC combined.

Thanks
The maximum tax free amount will be 25% of the total amount regardless of when you take it. Or as an example, if you have both, you could take your Flexiplan with your NRA60 and your Bonusplan with your NRA65, or vice versa.
Links to all RM pension related websites are here
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