Important information. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

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1 Important information Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

2 > Contents About this booklet 4 About the Teachers AVC Scheme 5 Its aim 5 Your commitment 5 Risks 6 Questions and Answers 7 Your Teachers' AVC Scheme 7 How much can I pay into the AVC Scheme? 7 Where do you invest my contributions? 7 Can I switch my money between funds? 8 Can I take money out of my plan? 8 Can I transfer my plan? 8 Can I transfer money from another pension scheme into this one? 9 What are the tax advantages of investing in the Teachers AVC Scheme? 9 What are the charges? 11 What's a Market Value Reduction? 12 How will I know how my plan is doing? 13 What happens if I leave? 13 What if I want to cancel my plan? 13 Other options available 13 2 Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

3 Taking benefits from your AVC 14 When can I start taking my benefits? 14 How do I turn the value of my AVC pot into an income? 14 Can I take any of the money invested in my AVC pot as a lump sum? 15 Can I use my AVC to provide additional life cover? 15 How much will my income be? 16 What happens if I die before I take my benefits? 16 Pensions Freedom & Choice 16 Other information 17 How to contact us 17 Guidance Guarantee 17 How to make a complaint 17 Your client category and why it matters 18 Conflict of interest 19 Law 19 FCA Registration 19 Compensation 19 Prudential's liability 21 If you would like a Braille, large print or audio version of this Key Features, please contact us at: Prudential, Lancing, BN15 8GB Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 3

4 > About this booklet > This booklet is the Key Features for the Teachers AVC Scheme. > If you're thinking about whether the Teachers AVC Scheme may be right for you, this booklet will help you make that decision. > Please read it and keep it in a safe place. Please also read "A Guide to Fund Options" and Your With-Profits Plan a guide to how we manage the Fund. > When we refer to your normal pension age, this is the same as your normal pension age in your teachers' scheme as at the date you join the AVC. It will not change if your State Pension Age or normal pension age in the main Teachers' scheme changes. We may also refer to this as your "AVC Policy Age" For members with an existing AVC as at 31st March 2015, this will be age 60 or 65 depending on when you joined the teachers' scheme. For a protected member this will be 60 or 65 depending on when you joined the teachers' scheme. For a tapered member this will be 60 or 65 or your State Pension Age, depending on whether you join the AVC before or after your taper date. For transition members and new teachers from 1/4/15 this will be your State Pension Age. To understand what type of member you are, please see the factsheet available at > If you still have questions about the Teachers AVC Scheme after reading this booklet, please call us on If you have a financial adviser, please contact them in the first instance. The Financial Conduct Authority The Financial Conduct Authority is a financial services regulator. It requires us, Prudential, to give you this important information to help you decide whether the Teachers AVC Scheme is right for you. You should read this information carefully so that you understand what you're buying and then keep it safe for future reference. 4 Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

5 > About the Teachers AVC Scheme It is a savings arrangement designed to help you to build up a pot of money to provide an additional pension and/or lump sum for your retirement and is subject to the rules of the Teachers AVC Scheme. Taking out this product will meet the demand and need of a main scheme member wishing to make additional pension provision to meet their financial requirements in retirement. > Its aim > To help you save for your retirement in a tax-efficient way. > Your commitment > To make payments into your plan by regular and lump sum payments. > To allow the money in your plan to grow until you take your retirement benefits. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 5

6 > Risks Risk factor > The value of the investments that make up your plan can go down as well as up. The value can even fall below the amount you invested. > There are different risks for different funds. > If money is taken out of the With-Profits Fund at any time other than your AVC Normal Pension Age or on your death, the amount payable may be reduced to reflect the value of the underlying assets at that time. This is known as a Market Value Reduction (MVR). Where you can find more information We explain this in Where do you invest my contributions? on page 7. You can find information about each fund in "A Guide to Fund Options". We explain this in What's a Market Value Reduction? on page 12. > Tax rules may change in the future. We explain this in What are the tax advantages of investing in the Teachers AVC Scheme? on page 9. > Inflation will reduce what you can buy in the future. > If the total charges taken from your plan are more than any overall growth achieved, your plan will fall in value, possibly to even less than you have invested. We explain this in "What are the charges?" on page Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

7 > Questions and Answers Your Teachers AVC Scheme How much can I pay into the AVC Scheme? There is no limit to the amount that you can pay into your AVC Scheme. Your total contributions to this AVC facility, the main Teachers' Pension Scheme, including top-up options, Additional Pension Benefit, and any other pension arrangement is subject to maximum tax relief on your contributions of up to 100% of your salary. For more information about tax relief, please read "What are the tax advantages of investing in the Teachers' AVC Scheme?" on page 9. Your employer will take your payments directly from your salary and send them to us. The government's Pension Credit guarantees a minimum income if you're on a low income. If you have little or no other retirement provision, the income you receive when you take the benefits from this scheme could reduce the amount you receive as a Pension Credit. Where do you invest my contributions? You choose which funds you would like to invest your money in, from the fund range available. Different funds offer different types of investment. For example, some only invest in property, others invest directly in the stock market, and others invest in a wide range of assets. Each fund has its own level of potential reward and risk. Usually, funds with more potential for growth carry more risk. The performance of the funds isn t guaranteed. The value of your investment can go down as well as up. If it goes down, you could have less money in your plan than you paid in. For information about the Funds you can choose from, please read "A Guide to Fund Options" and Your With-Profits plan a guide to how we manage the Fund. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 7

8 Can I switch my money between funds? You can switch your money between funds at any time. We currently don t charge you for this. If this changes in the future we'll let your pension Scheme Administrator know. We may apply a Market Value Reduction if you switch money out of our With-Profits Fund. For more information about this, please read What's a Market Value Reduction? on page 12. Can I take money out of my plan? From the 6th April 2015, from age 55, you will be able to withdraw all or part of your pension fund as one of more cash lump sums. You may withdraw a minimum of 2,000 on each occasion subject to a minimum of 5,000 remaining in your plan. Alternatively you may withdraw all your funds. There is currently no charge for this however we may apply a Market Value Reduction if you withdraw any money from our With-Profits Fund. For more information about this, please read What s a Market Value Reduction? on page 12. For more information on withdrawing money from your fund, please read "Can I take any of the money invested in my AVC as a lump sum?" on page 15. If you are below age 55 you are unable to withdraw money from your plan. For more information about this, please read "How do I turn the value of my AVC pot into an income?" on page 14. Can I transfer my plan? If you are a member in England & Wales or Scotland, you can transfer your AVC plan to another pension arrangement at any time. This might be appropriate if you wish to access retirement products which are not available to you through the Teachers' AVC scheme. For Northern Ireland, you can normally also transfer your AVC plan to another pension arrangement at any time before you start to take your main scheme pension benefits. We won't charge you for this. We may apply a Market Value Reduction if you transfer money out of our With-Profits Fund. For more information about this, please read What s a Market Value Reduction? on page 12. Transferring funds between pension providers is an important decision, so we recommend that you speak to a financial adviser first. 8 Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

9 Can I transfer money from another pension scheme into this one? Should you wish to transfer any other benefits into the Teachers' AVC Scheme, this is possible as long as you are in pensionable service at the time of transfer. You will need to discuss this with your pension scheme administrator. This option would not be available to Pension Credit Members. inform HMRC through the completion of a tax return. The Annual Allowances are outlined below: Tax Year Annual Allowance 2014/ , / ,000 You may be able to carry forward unused allowance from the last three years to increase your limit for the current year. What are the tax advantages of investing in the Teachers AVC Scheme? Tax Relief AVCs are deducted from your salary before tax and passed to Prudential for investment. This means if you normally pay tax you ll qualify for immediate tax relief on your payments. You are also able to make lump sum contributions by cheque. In this case you will need to reclaim any tax relief you are due by contacting HMRC. Annual Allowance The Government limits the amount that can be paid each year, to all your pensions, before incurring a tax charge. This is called the Annual Allowance. If this is exceeded, you may be liable to a tax charge and must Your Annual Allowance includes all contributions from you, your employer, any third party and increases in the value of any salary related pension benefits you may have. If you think you are affected by this limit you can get more information from the HMRC website at Tax rules require careful consideration and you should speak to a financial adviser. Money Purchase Annual Allowance In addition to the standard annual allowance mentioned earlier under Annual Allowance, there is a new form of this called the Money Purchase Annual Allowance (MPAA). The MPAA may apply to you if you have flexibly accessed pension benefits on or after 6th April Your pension scheme or provider will have informed you if you have flexibly accessed your pension benefits. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 9

10 Examples of these include taking income from flexi-access drawdown or a cash lump sum (Uncrystallised Funds Pensions Lump Sum). The MPAA is 10,000 from 6 April 2015 and would apply from when you first flexibly accessed benefits. If this is the case you will incur a tax charge on any contributions to a money purchase pensions which exceed this level. Also, in a year when you exceed the MPAA the standard annual allowance for your other defined benefit pensions, such as a final salary or career average pension scheme, will reduce to 30,000. This is a complicated subject and you may wish to speak to a financial adviser or further information may be obtained from Her Majesty s Revenue and Customs (HMRC). Lifetime Allowance The Government limits the amount you can build up in all your pension plans before incurring a tax charge. This is called the Lifetime Allowance. If you exceed this amount, a tax charge may be payable on the excess. The Lifetime Allowances are outlined below: Tax Year Lifetime Allowance 2014/ m 2015/ m There is some protection available for those that may exceed the lifetime allowance. If members think they are affected they can get more information from the HMRC website at Alternatively, they may wish to speak to a Financial Adviser, for which they may be charged. Capital Gains Tax You don t pay capital gains tax on your pension funds. Tax-free lump sum From the 6th April 2015, from age 55, you will be able to withdraw all or part of your pension fund as a lump sum 25% of each payment being free of tax with the remaining 75% being added to your income for the year and taxed accordingly. This may affect the rate of tax you pay when added to any other income for that tax year. Tax rules require careful consideration and you should speak to a financial adviser on this subject. Under the terms of the current contract you will need to take your AVC benefits by your 75th birthday. To find out more information, please read "Can I take any of the money invested in my AVC pot as a lump sum?" on page Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

11 Income Tax Any pension income and/or 75% of any withdrawal you make will be taxed as earned income. This information is based on our understanding of current taxation, legislation and HM Revenue & Customs practice, as at February These tax rules could change in the future without notice. The impact of taxation and any tax relief depends on your individual circumstances. For more information about tax, please go to HMRC s website: What are the charges? We make charges for managing your plan and your investments. The amount we charge depends on the funds you invest in. For more information, please read "A Guide to Fund Options". Our charges may vary in the future and may be higher than they are now. Further details can be obtained by referring to the scheme policy conditions which are held by the Trustees. For most funds we calculate the charge daily and take it monthly from your plan by cancelling units. We calculate the charge for the With-Profits Fund differently. Please remember that we ll keep taking our charges, even if you stop your payments. With-Profits Fund charges The With-Profits Fund s management charge depends on the performance of the With- Profits Fund, in particular the investment return and our expenses. If, for example, over time investment returns are higher then we would expect to increase the charges and if investment returns are lower we would expect to reduce the charges. We currently expect this charge to be 0.8% a year, based on the assumption that future investment returns from the With- Profits Fund will be 5% per year. We deduct this charge through the bonus mechanism. With-Profits guarantee charges There is a charge to pay for all the guarantees the With-Profits Fund supports. We guarantee not to apply a Market Value Reduction (MVR) in certain circumstances, e.g. when payments are made because of death or at your AVC Normal Pension Age. Our current practice (which is not guaranteed) may include additional circumstances when an MVR is not applied. Please see What's a Market Value Reduction? for more details. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 11

12 You won t see this charge on your annual statement because we take it by adjusting regular and final bonuses. The total deduction for guarantee charges over the lifetime of your plan is not currently more than 2% of any payment made from the fund. Charges may vary if, for example, the long term mix or type of assets held within the With-Profits Fund is changed. For more information about bonuses and charges, please read Your With-Profits Plan a guide to how we manage the Fund. What's a Market Value Reduction? If you take money out of the With-Profits Fund, we may adjust the value of your fund if the value of the underlying assets is less than the value of your plan including all bonuses. This would also apply if the trustees of your plan transferred part, or all, of the scheme. This adjustment is known as a Market Value Reduction (MVR). It is designed to protect investors who are not taking their money out and its application means that you get a return based on the earnings of the With-Profits Fund over the period your payments have been invested. We apply the MVR to your plan's value including regular and final bonuses. Please read Your With-Profits Plan a Guide to how we manage the fund for more information on bonuses. An MVR will reduce the amount payable on full or partial withdrawals and if investment returns have been very poor, you may get back less than you have invested in your plan. We guarantee not to apply an MVR at your AVC Normal Pension Age or on any claims due to death. Our current practice on applying an MVR We may apply a market value Reduction to any full or partial withdrawals you make as cash lumps or if you switch or transfer out of the with profits fund. We reserve the right to change our current practice on Market Value Reductions at any time, without prior notice, and this would apply to existing plans and any new plans or top-ups. Examples of reasons for a change would include significant changes in the investment market or because the number of people moving out of the fund increases substantially. 12 Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

13 How will I know how my plan is doing? We'll send you an annual statement, which shows how your plan is doing. Alternatively, you can phone our Customer Service Centre on and a member of our team will give you an up-to-date valuation. What happens if I leave? If you leave the main Teachers Pension Scheme your contributions will stop and your AVC plan will remain invested (you can restart contributions after a career break when you rejoin the main scheme). Any charges will continue to be taken until you take your benefits. Alternatively, you may transfer all or some of your AVC plan, to another Registered Pension Scheme, or Qualifying Registered Overseas Pension Scheme (QROPS). If you receive a refund of your contributions to the main scheme we will refund the value of your AVC plan. From 1st October 2015 we will only be able to refund the value of your AVC plan if you have less than 30 days qualifying service in the Teachers' scheme. In either case this refund is subject to statutory deductions for tax. For more information on transferring your plan please refer too Can I transfer my plan? on page 8. We may apply an MVR to any monies taken out of the With-Profits Fund. Please refer to What's a Market Value Reduction? on page 12. What if I want to cancel my plan? You cannot cancel your plan, and receive a refund of contributions. However, you can reduce or stop your contributions at any point. Other options available You have a number of options to increase your benefits within the Teachers' scheme. You should contact your main scheme administrator for more details. There may also be other options available to you. For information about all your options, please speak to a financial adviser. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 13

14 > Questions and Answers Taking benefits from your AVC When can I start taking my benefits? The Government currently allows people to start taking their benefits from the age of 55, even if you are still working. You may be able to start taking your benefits early if you re in ill health. The minimum age from which you can access your personal or occupational pension will increase from 55 to 57 in 2028 and is expected to remain at 10 years below the State Pension Age. The State Pension Age will gradually increase from age 66 to age 67 for males and females between 6 April 2026 and 5 April These ages will be linked to life expectancy and other factors in future and therefore will change. You should consider this change as you plan your retirement. A State Pension Age calculator on the Government s website will enable you to check your expected State Pension Age: To find out how much your State pension might be, you might find the Government s calculator useful. How do I turn the value of my AVC pot into an income? The value of your AVC pot includes money you've invested, less charges plus any growth. This value is known as your pension fund. From 6th April 2015 the new freedoms that the Department for Education had adopted for TAVCs mean there will be less restrictions on how you can take your money out once you re 55. Whatever you decide to do with your pension, you don t have to stay with us. If you choose to use your pension to provide an income, you should shop around. Depending on the choices you make, you may be able to get a higher income elsewhere, so it s important you consider this. If you or your partner have a medical condition this could mean you are entitled to a higher income in retirement. Remember that you should shop around for your income and other companies may cover different conditions to us and may use different criteria which means you could get more or less income elsewhere. There are also other options available to you. For information about all your options, speak to a financial adviser or call us. 14 Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

15 If you buy your pension income from Prudential, the payment of this income is protected by the Secretary of State. Can I take any of the money invested in my AVC pot as a lump sum? You can usually take 25% of your pension fund as a lump sum if you buy an annuity. From 6th April 2015, from age 55, you will be able to withdraw all or part of your pension fund as a lump sum. The first 25% of each payment will be free of tax with the remaining 75% being added to your income for the year and taxed accordingly. This may affect the rate of tax you pay when added to any other income you have for the year. Prudential applies a minimum to withdrawals from the TAVC and any withdrawal you make must leave you with a minimum balance in your pension fund of These tax and scheme rules could change in the future without notice. Can I use my AVC to provide additional life cover? You can use AVCs to fund additional life cover for yourself, your spouse and/or dependants. The cost of this cover increases every three years for the level of cover selected. Your cover will end when you reach your normal pension age or when you stop paying contributions. You may be able to extend cover beyond your normal pension age up to age 75. When we refer to a 'dependent' this now extends to any surviving adult under new regulations including spouse, civil partner and nominated partner. How much will my income be? You can use your pension fund to create an income. The size of your pension fund, to generate this income will depend upon many factors such as: > the amount that has been paid into the plan > how long you have been making payments > the performance of the fund(s) you have invested in Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 15

16 > the age you choose to take benefits > the amount of charges you ve paid The size of your income will depend upon many factors including how you draw your pension. What happens if I die before I take my benefits? If you die and you still have money invested in your AVC pot, we'll normally pay the value of it as a lump sum. This will be paid to your Personal Legal Representative. These benefits may be liable to Inheritance Tax. You can also use your AVC to buy extra death benefits for your spouse, civil partner, nominated partner or dependants. Premiums for this life assurance increase every three years for a given level of cover. For more information about inheritance tax rules, please go to HMRC s website: Pensions Freedom & Choice From 6th April 2015, the Government has given everyone from age 55 the option to take their money purchase pension savings flexibly. This means you can > Take your money in one go. 25% tax-free with remainder added to your income for the year and taxed accordingly. > Take a tax-free lump sum and flexible income. 25% tax-free lump sum with the remainder used to provide taxable income. In order to do this you must transfer into a Drawdown plan and you may need to take financial advice. > Take partial withdrawals. On each withdrawal 25% of it is tax-free with the remainder added to your income for the year and taxed accordingly. > Take a tax-free lump sum and a guaranteed income for life, or as it is commonly known an Annuity. > Take a combination of these options, or of course you can leave your TAVC invested as it is now and continue saving for your retirement We recommend you get guidance or advice to help you with this decision. Pension Wise is a new service from the Government that will offer free and impartial guidance. It also contains details on where to find an adviser. Visit 16 Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

17 > Other information How to contact us If you have a financial adviser, please continue to use them as your first point of contact. If you don t have a financial adviser, you can call our Retirement Specialist Team for information about starting AVCs or changing your current contribution levels on For general enquiries you can call us on Calls may be monitored or recorded for quality and security purposes. You can also contact us by: Post: Prudential Prudential Teachers AVC Lancing BN15 8GB Via our website: Guidance Guarantee In addition to the advice your Financial Adviser can provide, we recommend you use Pension Wise, a new service from the Government that will offer free and impartial guidance. This service will be available on the internet, over the telephone, or face to face. Find out how to access this by visiting How to make a complaint If your complaint is advice related please contact your financial adviser. If we do anything that you re unhappy about, we ll always try to put it right if we can. To do this we need to know exactly what the problem is. So please write to us with all the details of what has happened. Please send your complaint to: Prudential Customer Relations Unit Lancing BN15 8GB Copies of our complaint handling procedures are available from this address. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 17

18 If you d rather phone, you can call us on To make sure we have an accurate record of what you tell us, we may monitor or record your call. We hope that we'll be able to handle your complaint in a way that satisfies you. But if we can t, you can speak to one of the following organisations: The Financial Ombudsman Service Exchange Tower London E14 9SR Telephone: The Pensions Ombudsman 11 Belgrave Road London SW1V 1RB Telephone: The Pensions Advisory Service (TPAS) 11 Belgrave Road London SW1V 1RB Telephone: The Pensions Advisory Service is an independent, government funded body that gives free advice to members of the public about pensions. Your client category and why it matters The Financial Conduct Authority (FCA) is a financial services regulator. It asks companies to categorise their clients based on their involvement in and familiarity with financial services. This helps to make sure we send the right information to the right people. For example, information for an individual customer should assume less knowledge than information for a financial services company. You re categorised as a "retail client". This means you get the highest level of protection by getting the clearest explanation of what you re buying and more detail about the risks. This means the information we send you is clear, balanced and indicates any relevant risks. Your category does not affect your right to lodge a complaint with the Financial Ombudsman Service. If you have any questions about your client category, or think your category should be different, please call our Customer Service Team on These are free services. Using them won t affect your right to take legal action. We can help you find the appropriate organisation to handle your complaint. 18 Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

19 Conflict of interest We want to make sure that we uphold our reputation for conducting business with integrity. That s why we have drawn up a policy to deal with any conflicts of interest. If you would like to know the full details of our Conflict of Interest Policy, please contact our Customer Service Team on Law The law and courts of England and Wales will decide any dispute. FCA Registration Prudential Assurance Company Limited is entered on the Financial Conduct Authority (FCA) Register, Firm Reference Number The FCA Register is a public record of all the organisations that the FCA regulates. You can contact the FCA at: Prudential Regulation Authority contact details: The Prudential Regulation Authority Bank of England Threadneedle St London EC2R 8AH Telephone: Compensation We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the Scheme if we cannot meet our obligations. This depends on your eligibility, the type of business, the fund/s invested in or the funds selected and the circumstances of the claim. For more information on the FSCS and examples of limits in the scope of FSCS for your plan, please go to the webpage for more details. The Financial Conduct Authority 25 The North Colonnade Canary Wharf London E14 5HS Telephone: Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 19

20 For further information contact: The Financial Services Compensation Scheme 10th Floor Beaufort House 15 St Botolph Street London EC3A 7QU Telephone: or Prudential policyholders are not protected by the FSCS against the insolvency of other companies within the Prudential group or an external company. This means that the FSCS does not provide protection: However, it should be noted that the money policyholders invest in a fund is kept separate from the assets of the actual company that manages the fund. This is often known as "ring fencing of assets". The liabilities of these funds are normally limited to the assets owned by the fund, so the likelihood of insolvency is very low. Unit prices may fluctuate in line with the value of the assets owned by the fund, but this is normal investment risk. If another company from within the Prudential group or an external company becomes insolvent and we cannot recover the full value of the units, Prudential will not be liable for the shortfall. (i) for Prudential unit-linked funds which are invested solely in funds operated by another company within the Prudential group (for example, unit trusts or Open Ended Investment Companies operated by another company within the Prudential group); or (ii) for externally-linked funds. 20 Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

21 Prudential's liability Our liability under any fund that we make available under the Teachers Additional Voluntary Contributions (AVC) Scheme cannot exceed the value of the assets underpinning that fund, whether these assets are actual assets, an interest in another fund (whether managed by a company within the Prudential group or by an external company) or an interest in a reinsurance policy effected by us to reinsure our liability under a fund. In particular, for the type of funds listed in one and two above, our liability is limited to the amount we can claim from the relevant company. So, for example, if the external company or the other company within the Prudential group, were to become insolvent, we could only pay the amount, if any, which we could collect under the insolvency in respect of the units allocated to the plan. In addition, we are not liable for any losses caused by the acts and omissions of an external company in respect of its own fund and/or the externally-linked fund. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme 21

22 > Notes 22 Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

23

24 "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. This name is also used by other companies within the Prudential Group. Registered office at Laurence Pountney Hill, London EC4R 0HH. Registered number Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. TAVK /2015

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