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Cashing in Bonusplan

21 Dec 2017, 21:25

With my NRA60 fast approaching I got my latest forms to fill out from the Pension Centre. One of the options is to take the Bonusplan AVC as my lump sumas intended. The figure they show is about 10% less than its currently worth. And that is the amount I would get initially. And about 6 weeks later they disinvest your AVC funds and pay the rest of the fund at its current value. I did check and I can continue to pay into it and build up a new amount. Though whether Bonusplan will now go beyond 31st March 2018 is anyones guess!

I am also getting a very small extra supplement regardless of whether I leave RM or not which is connected to another pension I moved to RM when I first started. And indeed my pension and RM supplement amounts are bigger than I had calculated for which is nice! Though would still need to take my NRA65 early to be really ok when I leave RM and until the state pension kicks in..

Just hope the Goverment don't start changing the law and rules and fiddle with the index linking!!


Cashing in Bonusplan

23 Dec 2017, 18:27

fly-catchers wrote:With my NRA60 fast approaching I got my latest forms to fill out from the Pension Centre. One of the options is to take the Bonusplan AVC as my lump sumas intended. The figure they show is about 10% less than its currently worth. And that is the amount I would get initially. And about 6 weeks later they disinvest your AVC funds and pay the rest of the fund at its current value. I did check and I can continue to pay into it and build up a new amount. Though whether Bonusplan will now go beyond 31st March 2018 is anyones guess!

I am also getting a very small extra supplement regardless of whether I leave RM or not which is connected to another pension I moved to RM when I first started. And indeed my pension and RM supplement amounts are bigger than I had calculated for which is nice! Though would still need to take my NRA65 early to be really ok when I leave RM and until the state pension kicks in..

Just hope the Goverment don't start changing the law and rules and fiddle with the index linking!!


Without going into your specific figures, can I get clear about the numbers the pension centre are talking about?

Assume your Bonusplan value is currently worth say £10,000 and stays at that valuation up until NRA60 . Pension are saying that you would only get 90% i.e. £9000. Have they indicated exactly when you would get this? At your NRA60 or days/weeks later? And you then get the remainder (£1000) about 6 weeks later than the 90% payment? I also have a flexiplan AVC so I am assuming that the forms would indicate those values as well.

Have also PM'd you :thumbup

Cashing in Bonusplan

23 Dec 2017, 21:10

Sent you a PM BeamishStout! :thumbup

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