Hawkey99 wrote:Thanks Robert.
If I take my NRA 60 pensions without my AVCs will I lose any of my 25% tax free lump sum from my AVC
Will it effect the amount of tax I pay on my AVC in any way at all.
If you don’t take your AVC’s with your NRA60 you still have the choice to take them with your NRA65. Alternatively, you could treat your AVC’s as a separate pot and take them independently of your RMPP benefits, but only 25% is guaranteed to be tax free, with the rest being treated as earned income and potentially taxed accordingly.
I am section C and don't intend to take any lump sum with my pension.
The best time to take your AVC’s is with your main RMPP benefits and probably the NRA60 for most people because that’s likely to be worth more. The whole point of AVC's to to use them to fund the tax free lump sum, so as to not have to commute any pension to get one - particularly useful for section C'ers. Therefore if you take them at any other time, tax is more likely to be payable, although as ever, that will depend on circumstances.