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Tax-free cash and AVCs

A further advantage of paying AVCs can be enjoyed when you retire as you may be able to take all your AVCs as tax-free cash.

The two main advantages of taking tax-free cash from the Friends Provident AVC policy are:

  1. Taking tax-free cash from your Friends Provident AVC policy means that you do not need to take any/as much cash form your Harmsworth Pension Scheme benefits. This means you maximise the amount of inflation-proofed pension you will receive when you retire.


  2. You may not need to buy a pension with your fund when you retire.
Please note that if you do have to buy a pension with your Friends Provident AVC Fund, we will assist you as much as we can.

However, DMGT Pensions cannot buy this annuity on your behalf and we are unable to put the rest of your pension benefits into payment until the annuity has been purchased.