If you have an AVC account (because you made contributions before the RMPP closure date on 6 October 2024), you need to:

• Keep your AVC account invested until you take some or all of your main RMPP benefits, or until you take your AVC account separately; and
• Make decisions about where to invest your AVC account.

Your choice of funds will directly affect the value of your AVC account and the level of benefits it can provide. The risks and the potential investment performance differ depending on the funds you choose. At the time you take your benefits, the final value of your AVC account could be higher or lower than expected. 

When you take your main benefits from the RMPP, you can use the value of your AVC account to provide a tax-free cash sum (within limits under the RMPP Rules) and/or a pension (a regular income).

We have updated the AVC Guide which contains lots of information to help you understand the different types of investment available and option at retirement. You can download a copy using the link below. 

Each year, you’ll be sent a statement showing how your AVC account is performing. By using these yearly statements you can take a long-term view and get a good idea of how fund prices and the value of your AVC account are changing. 

You can also check the value of your AVC account at any time by using the online facility that Scottish Widows has made available on the Money4Life website. AVC factsheets can be found here.