Changes to the Money Purchase AVC for new contributors
The USS Additional Voluntary Contributions (AVC) partner, Prudential, is introducing an exit charge.
This could affect you if you withdraw any of your funds within five years of your first AVC pension contribution to the USS money purchase AVC scheme. The charge will only apply if Prudential receives your first pension contribution on or after 19 August 2012. To guarantee Prudential receives your contribution by this date, the University's Pensions Department will need to receive your completed application to commence these AVCs by 20 July 2012 at the latest.
The information in this letter is based on Prudential's understanding of taxation rules and regulations as at March 2012, all of which may change without notice.
More information is available on the Prudential USS website here.Posted in: University news