Use of Public Sector AVC to Purchase Property

[newbie1234]

Evening
Wife is a teacher.
In addition to her normal public sector pension she has a healthy AVC thru cornmarket.
Is it possible to transfer this AVC into a vehicle such as a PRSA that will allow her to purchase an investment property.

We were thinking of using it along with a portion of my own executive pension to purchase a commercial property.

Thanks for your help here.

 

[Fortune]

Is it possible? Yes. Is it probable? That's another story. If you need to borrow, it might be difficult to find a lender. You'll also need to find a provider who'll be willing to facilitate the property purchase between two policies, which they may or may not. Also, you'd need to check if pension investment is allowed on your executive pension. I have a feeling IORPs now limits the amount of investment allowed on property.

Lastly, you'd have to remember that it's not a good investment strategy as you'd be throwing any notion of diversification out the window (not forgetting some vague articles online predicting WFH meaning a massive correction is about to happen in commercial property).

 

[Dave Vanian]

It's possible but you'll need a broker that knows what they're doing. Your wife can transfer to a self-administered AVC PRSA. If you want to join her you'd need to be with the same company. This can be arranged but if your Executive Pension is not currently self-administered, you'll need to wind it up and transfer to a self-administered PRSA or Buy-Out Bond.

As @Fortune says it's possible but do you really want to?