Your AVCs. Your future.

• An AVC is a separate pot of money you build up alongside your teachers’ pension to give you extra retirement benefits. 
• If you pay tax you benefit from tax savings as your regular contributions are taken from your pay before tax. Tax savings will depend on your individual circumstances and rules can also change.
• You can pay AVCs regularly or as a lump sum, and you can change your contributions at any time.
• AVCs are invested in funds, so they have the potential to grow over time. It also means the value of your fund can go down as well as up so you might get back less than you put in. When it comes to choosing where to invest your AVC pot, there’s no need to feel overwhelmed. The 'Investment choices' section of this site will take you through your investment options to help you make a decision.
• The size of your AVC pot will depend on how much you pay in, how long you pay in for, the impact of costs, charges and how well the fund(s) you invest in perform.
• You have a number of options for how to access the money in your AVC pot, currently from age 55, on retirement or earlier if you’re in ill health.
• Your AVC pot is a separate pot of money, which means you don’t have to take it at the same time as your teachers’ pension scheme benefits.
• If the worst happens and you pass away before you’re eligible to take your money, we’ll pay the value as a lump sum. This will normally be to your spouse, civil partner, dependants or your legal representative.

For more information, please read your Key Features document in the 'Apply' section of this site.

Prudential is an international financial services company, and long established provider of life insurance and pensions in the UK. We’ve been helping people save money for over 165 years.

Prudential has been working with teachers’ pensions members since 1989, and is the appointed AVC provider. We’ve helped approximately 197,000 teachers save for their retirement.

You can use your AVCs to buy life cover from Prudential. For more information, please read your Key Features document or call us for a pack. You'll find our number and the Key Features document in the 'Apply' section of this site.

Your teachers’ pension scheme has other options to increase your retirement benefits. Visit their website for more information.

You can make regular or lump sum payments into your AVC pot direct from your pay, and you can change them at any time. If you reduce or stop them, it'll affect how much money you eventually have and you'll still pay charges.

There’s no minimum contribution amount.

Depending on pension allowance limits, you can pay in up to 100% of your pensionable pay each month after deductions (such as National Insurance and your teachers' pension scheme contribution) are taken. If you want to contribute more than 80% of your pensionable pay, please call us on 0800 151 3665. Lines are open Monday to Friday from 9am to 5pm.

You have a number of options to choose from when you decide to take money from your AVC pot, which you can currently do from age 55, or possibly earlier if you’re in ill health. These options give you greater choice and control over how and when you retire and you don't need to take your teachers' pension benefits at the same time.

• Take flexible cash or income
  You can do this by moving your money into a drawdown plan. In most cases you can take up to 25% of your money tax-free, you’ll need to do this at the start. You can then dip in and out when you like or take a regular income. This may be subject to income tax.
  
  
• Get a guaranteed income for life
  You can buy an annuity – it pays you an income (a bit like a salary) and is guaranteed for life. These payments may be subject to income tax. In most cases you can take 25% of the money in cash, tax-free. You’ll need to do this at the start and you need to take the rest as income.
  
  
• Cash in your pot all at once
  You can take your AVC pot as a single lump sum. Normally the first 25% is tax-free but the rest may be subject to income tax.
  
  
• Take your cash in stages
  You can leave the money in your AVC pot and take out cash lump sums whenever you need to – until it’s all gone or you decide to do something else. You decide when and how much to take out. Every time you take money from your AVC pot, the first 25% is usually tax-free and the rest may be subject to income tax.
  
  
• Leave your pot where it is
  You don’t normally have to start taking money from your AVC pot when you turn 55. It’s not a deadline to act.
  
  
• Take more than one option
  You don’t have to choose one option – you can take a combination of some or all of them over time.