It's possible to cash in an AVC pension at the age of 55, no matter if you're still working or intend to retire. How you choose to cash in an AVC at 55 will depend on the rules of the scheme and it may be possible to withdraw it all as a lump sum, keep your money invested via drawdown or purchase an annuity.

Can I take my AVC fund as cash?

You can take some or all of your AVC fund as a tax-free cash lump-sum , but you can only take it all as a lump-sum if you draw it at the same time as your main LGPS benefits and provided, when added to your LGPS lump-sum, it does not exceed 25% of the overall value of your LGPS benefits (including your AVC fund).

Can I draw down my AVC early?

Early withdrawal option from your AVC. Finance Act 2013 allows you a once-off option to withdraw up to 30% of the value of your AVC fund.