Are AVC funds guaranteed by government?

M

mjb

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Does anyone know if funds deposited in AVCs are secure in that they are subject to government guarantees etc.?
 
It depends on what fund you have selected. In general AVCs and other pension investments are not guaranteed by the government.

However if you have AVCs in a cash/deposit fund and that cash fund has the majority of its investments in Irish Banks (i understand the Irish Life one does), then by default these investments are covered by the gurantee on banks.

To be clear AVCs are not in themselves guarateed by the government.
 
Not sure about AVC but for other pensions, any companies that operate here as a branch of a UK parent will have policy protected by the UK Financial Services Compensation Scheme (FSCS).
That will cover 100% of the value of policy up to £2,000 and 90% of the balance without limit.
 
canman said:
Not sure about AVC but for other pensions, any companies that operate here as a branch of a UK parent will have policy protected by the UK Financial Services Compensation Scheme (FSCS).
That will cover 100% of the value of policy up to £2,000 and 90% of the balance without limit.
Click to expand...

Standard Life fall into this category. Not sure if there are any others.
 
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