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My understanding is that any AVCs in excess of the 120k given in your example cannot be taken as lump sum and instead an annuity/ARF must be purchased. I am pondering the same question as you though, at what point does it no longer make sense to pay into an AVC

Thank you both for the replies. I hadn't considered the overall revenue benefit limits as my salary, while above average perhaps, is certainly not high at 62000. I do live relatively frugally though I guess. The DB scheme has already been downgraded from final salary to career average in the...

Thanks Conan for taking the time to reply. Seems as though I will have to draw down all pensions at once so might as well continue my contributions to the supplementary scheme. (I'm aware that total contributions to all pensions must come under the 20% revenue limit.)

I am currently a member of a private sector defined benefit pension scheme. I am 33 years old and have 10 years paid into this scheme. The fund is fully funded. The company I work for also offers a supplemental DC pension where I can contribute additional funds and the company will match the...