DB pension fund and AVCs

S

spalpeeno

Registered User
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I have always assumed AVCs were totally seperate from my DB pension fund. However, should the fund be wound up - which it looks like it will be - is the fund I've built up in AVCs still safe and entirely seperate? I've been paying appx 10% of my monthly salary into AVCs for quite a number of years and now I'm worried as the employer has filed for section 50 reductions to my DB and I believe, will ultimately seek to wind up the scheme. Employer has already admitted to taking funds from our scheme to fund some strategic move and has failed to repay the sum in total, saying it is now taken into consideration and 'included' in the section 50 application. Needless to say I'm more than a little worried.

Thanks in advance.
 
AVCs have priority over other benefits - should be fine unless they are really really underfunded. Would check with your trustees.
 
Employer taking funds from your scheme may well be illlegal. You should talk to the Pensions Board in confidence.

d
 
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