Not sure what pension you are in?
You may have paid Additional Voluntary Contributions (AVCs) while working for BNP Paribas. The Trustee offers a range of investment funds that you can choose from for investing your AVCs. If you are a member of a Defined Benefit Scheme, when you start drawing your benefits, the fund built up in your AVC Account can be taken as tax-free cash, used to secure benefits within the scheme, used to take drawdown, or a combination of these options. Your AVCs could also be used to buy an annuity (which you’d pay income tax on) from an approved insurance company.
For further information on AVCs, contact your Scheme administrator, visit Contact Us.
If you die before starting to draw your benefits, the AVCs would be paid as a lump sum in the same way as any other lump sum paid on death.