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Comparing AVCs and APCs – What happens if I die?

Watering can representing APCs

If you die in service: your APCs won't count towards the lump sum we will pay out, or any dependants' pensions. This is because APCs only boost your own pension.

If you have deferred benefits with us and die before drawing them: we will pay out a lump sum of five times your deferred pension, so this will reflect the APCs you have paid. But your APCs won’t count towards any dependants' pensions.

If you die as a pensioner: If there is a lump sum paid on your death, this will reflect the APCs you had paid. But your APCs won't count towards any dependants' pensions.

Wooden blocks representing AVCs

If you die before you have drawn your AVCs, then the value will be paid as a lump sum. In all cases, we will decide who to pay it to, but we will take into account any nomination you have made covering your main scheme benefits.

More about nomination

If you die and you have already purchased an annuity with your AVCs, their may be a death benefit.

Comparing AVCs & APCs – list of questions

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