News Update for Prudential AVC members

The Fund has been notified by Prudential that members with Additional Voluntary Contribution (AVC) arrangements may be experiencing some delays in the processing of investments and claims.

 

Prudential has taken action to ensure that where an investment of contributions has been delayed, the date of processing reflects the date of receipt, rather than the date the processing actually occurs. This ensures that AVC scheme members are not disadvantaged by the delay.

 

Prudential has also put in place a service recovery plan, and is increasing resources to bring service levels back to normal.
 
Prudential has also informed the Fund that unfortunately there will be a timing impact on the production of annual AVC statements this year, with delays expected of at least 8 weeks.