Taking your extra contributions (APeCs)

On top of your main benefits, you have the option of saving up extra money – called Additional Pension Contributions (APeCs).

Find out more about APeCs 

You can take your extra contributions as a lump sum

You can take all or some of your APeCs as cash. The first quarter will be tax free, but anything you take over this amount may be taxed. Most people use their APeCs money to take as much tax-free cash as they can without reducing the size of the regular income they can take from their benefits.

You can buy an income

You can use some or all of your extra contributions to buy a guaranteed income from an insurance company. This is called an annuity. Different companies will offer different annuity rates, so it’s important to shop around. Once you’ve bought an annuity, you might not be able to change it.

You can transfer your APeCs out of the Fund

You might decide you want to leave the NatWest Group Pension Fund and transfer your APeCs to a different scheme. This could give you more options about how you use the benefits you’ve built up.

To find out more, read our guide to using your APeCs.