USS and Prudential AVCs
07 May 2012
Prudential, the AVC provider for USS, is changing its policy terms for short term investors.
An early exit charge will be applied to any withdrawal of funds before they have been invested for five years. This charge will apply, on a sliding scale, for any member whose first AVC is received by the Prudential after 19 August 2012 (deducted from July 2012 salary) and who wishes to withdraw their funds before they have been invested for at least five years.
The early exit charge will not apply if your first AVC to the Prudential is received before 19 August 2012.
Further information can be found on the USS website:
There are Q&As on the Prudential website:
If you are interested in paying AVCs with the Prudential, you can set up a contract by calling the Prudential on 0800 515 914. To be certain of avoiding the exit charge, it is recommended that you contact the Prudential during May so that your contract commences in June.
If you pay AVCs to secure additional service with USS, you are unaffected by this change.
Pensions Office
Contact:
- e-mail pensions@manchester.ac.uk
or - Tel 52043