In accordance with the LGPS (Scotland), Strathclyde Pension Fund allows current members to make AVC payments via Prudential. At present a scheme member can only take a drawdown of AVC's if they are transferred to another pension scheme which allows such drawn down. AVC's can be transferred at any time before the age of 75. The member does not need to have left the scheme however AVC payments must cease before a transfer can take place. A new AVC contract can be taken out once the transfer has been completed. Anyone who is not a current member of the scheme but still holds an AVC fund can also transfer anytime up to age 75.

If a member wishes to transfer their AVC fund value, they should contact their AVC provider. Members aged 55 or over can take UFPLS (i.e. taking 25% of the AVC value tax free and the rest taxable). For information about UFPLS please ask the member to contact their relevant AVC provider. You should note however that a member potentially has the option to take all their AVC fund value tax free at retirement along with their main LGPS benefits.

Members can change their AVC investment choices with their chosen AVC provider at any time. Members have access to their AVC accounts via the provider's website's. It is also possible to transfer funds from one provider to another. You can find more information on AVC's on the current members page of our website under "Increasing you benefits".