If you have built up additional voluntary contributions (AVCs) in the BT Pension Scheme (BTPS), you can use them in different ways. Make sure you research and understand the options open to you.
If you have AVCs and are over the age of 50 and considering your retirement options, you can get guidance from Pension Wise part of MoneyHelper.
When you apply to take your pension we'll ask you if you've had a Pension Wise appointment to discuss the use of your AVCs. You can book online direct.
Using your AVCs towards your BTPS pension
If you want to use your AVCs towards your BTPS pension, you may be able to use them to increase your tax-free lump sum, buy an annuity or transfer them into another pension scheme. Further information on how you can use your AVCs towards your pension is available in Your Pension Guide
We’ll generally disinvest your AVCs up to six weeks before your chosen pension start date. The cash they raise is the final value we’ll use in your pension calculations. As they’re still invested in your selected investment fund until then, their value could go up or down between now and when we disinvest them.
Other uses of your AVCs
The MoneyHelper booklet, Your pension: your choices, explains the various options you have to use your AVCs outside of your BTPS pension – and the risks associated with those choices. If in doubt, speak to an IFA.
The terms of your Scheme AVCs are subject to BTPS Rules and HMRC regulations, which will take precedence if there is any conflict with the information on this website.
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