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Money Purchase AVCs

Important information about your Money Purchase AVC arrangement (MPAVC) with Prudential

Our Money Purchase AVC arrangement (MPAVC) with Prudential

Since 1 October 2019, it’s not been possible to pay MPAVCs to any Prudential Funds.

We changed our Money Purchase AVC arrangement (MPAVC) with Prudential because we believe the Investment Builder offers value and flexibility to all members of USS.

We launched the Investment Builder in October 2016 to give you a flexible way to top up your pension, let you choose the level of control you have over your investment strategy and open up new ways for you to access the funds you build up.

What have your MPAVCs been invested in?

You may have built up a pot in the Prudential With-Profits, Unit-Linked or Deposit Funds.

Most MPAVC pots from Prudential’s Unit-Linked Funds have already been switched to the Investment Builder. But, if you have a With-Profits or Deposit Fund pot that you’ve not yet switched, your money will remain invested with Prudential, unless you decide to move it.

What can you do with your Prudential MPAVC pot?

You can choose from three options.

Leave your money invested with Prudential.

If you choose to do this, you don’t have to take any action.

Switch your Prudential pot to the Investment Builder*.

Fill out the Request to voluntarily switch MPAVC Funds into the Investment Builder form.

Transfer your Prudential pot to another arrangement*.

For more information on this, contact Prudential.

*Market Value Reduction and other charges

If you decide to move your pot out of Prudential’s With-Profits fund, it may be subject to a Market Value Reduction (MVR).

This would reduce the value of your pot to reflect market conditions at the time you withdraw so the value of the cash you’re taking out of the With-Profits Fund does not adversely impact the value of the investments made by members who remain in the Fund. To find out whether an MVR will apply to you, contact Prudential.

You should speak to Prudential about any charges that may apply and any guarantees that you may lose by moving your investments out of Prudential. We recommend seeking financial advice before you take any action regarding your investments.

You can visit our guidance and financial advice page for a range of resources to support you, along with information on sources of free, impartial guidance and how to find a regulated financial adviser.

If you’re not sure whether you have any investments with Prudential, you should contact them directly. If you do have Prudential investments, you’ll receive an annual statement from Prudential which will show you their value.

You can still make additional contributions in USS

Whether you leave your Prudential pot invested, transfer it to another arrangement or switch to USS, you can still make additional contributions to boost the savings you’ll have in the future.

Just log in to My USS and start to build a pot in the Investment Builder. Simply go to the view and manage savings page, where you can choose to build your pot with either regular additional contributions or one-off lump sums.

You can also decide how your pot’s invested. In the Let Me Do It Option you can manage some or all your investments and you can choose from a range of 10 funds. Or, you can choose the Do It For Me Option where we’ll manage your investments for you.

You may already have an Investment Builder pot, if you’ve transferred pension benefits into USS from another arrangement, earn above the salary threshold and/or you’re already making additional contributions.

Other investments with Prudential

The closure of MPAVCs doesn’t affect any other investments you may have with Prudential.

If you have other investments with Prudential that you built up by paying MPAVCs in the past, and which have not been switched to USS, you can choose to move your pot to the Investment Builder or transfer to any other arrangement of your choice, subject to Prudential’s terms and conditions.

Life cover

If you have a life assurance arrangement with Prudential, your life assurance contributions will continue in the usual way unless you cancel your cover with Prudential directly.

Prudential will contact you every three years to confirm the costs of your life cover.

Need some advice or guidance

Visit the guidance and financial advice page for a range of resources to support your planning, including how to access a financial adviser. Further support is available from MoneyHelper, which was set up by the government to help you with your money and pension decisions. It provides impartial guidance and is free to use.

MoneyHelper is available at


Useful contacts

Contact us

If you have any questions about:

  • The closure of With-Profits MPAVCs to new contributions or
  • the Investment Builder,

Call our Member Service Team on 0333 300 1043 – lines are open 9am-5pm Monday-Friday.

Contact Prudential

For more information:

Visit the Prudential website or call the Prudential customer service team on 0345 6000 343.

You can also log in or register to manage your investments with Prudential at

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