We offer mandatory and voluntary to pay your annual allowance (AA) charge if you’ve exceeded the AA on your NHS MPAVC.
This could be standard, tapered or alternative AA.
You must contact us to request a NHS MPAVC Election Notice (SPE3).
For the tax year 2022/23 the SPE3 must be returned by 31 July 2024.
If you retire before 31 July, the election must be completed and sent to us before your NHS MPAVC Scheme benefits become payable.
If you reach age 75 before 31 July, the election must be completed and received by us before your 75th birthday.
We’ll tell you that we’ve accepted your election and if it’s being paid using our mandatory or voluntary facility, or both.
We recover the cost of paying your AA charge by taking this from your fund value.