AVCs

New Additional Voluntary Contributions (AVCs) are not permitted into the MNOPF.

In May 2018 the Trustee transferred the AVC policies held with Equitable Life (now with Utmost Life and Pensions) and Standard Life to the Ensign Retirement Plan.

As part of the activities to enable the wind up the Ensign Retirement Plan, the Trustee agreed to receive a bulk transfer back to the MNOPF from the Trustee of the Ensign Retirement Plan in respect of the remaining AVC policies and accrued funds, which took place in June 2022. These policies are still held with Utmost Life and Pensions and Standard Life.