Additional Voluntary Contributions (AVCs)
AVCs are a great way to boost your pension
- You are in control - you can choose how much to pay and when to pay.
- Make your own choices - you can choose how your retirement savings are invested for your retirement.
- Maximise your savings - the contributions you make will benefit from tax relief so for every £1 you put into your AVCs, the cost to you is only 69p (if you pay through SMART). Higher rate tax payers would currently receive more tax relief.
- No hassle - AVCs are deducted directly from your pay so you do not need to worry about arranging payment.
You can find out more by downloading the AVC Guide below.
Information about AVC investment performance can be found here.
You can also use the Net Pay Calculator to see the cost to you of paying AVCs.
New to AVCs or want to change the amount you are currently paying?
If you do not currently pay AVCs and would like to start paying AVCs, please complete the Starting AVCs Form.
If you currently pay AVCs and would like to change your monthly contribution amount, please complete the AVC Contribution Change Form.
If you would like to change the way your AVCs are invested, please complete the AVC Investment Switch Form.
Taking your AVCs
If you would like/need to purchase an annuity with your AVC fund, further information can be found in the Annuity Guide.
If you are interested in taking cash from your AVCs, you may wish to read the "Taking Cash from AVCs" Information Sheet.
The Money Advice Service Guide "Your Pension - it's time to choose" can also be downloaded below.
Last updated: 3 January 2017
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|Download all files in a single zip file|
|AVC Guide - August 2017||461.03KB||21st August 2017||Download|
|AVC Starting Form - January 2017||79.76KB||20th December 2016||Download|
|AVC Contribution Change form - September 2017||253.26KB||5th September 2017||Download|
|AVC Investment Switch Form - January 2017||85.33KB||20th December 2016||Download|
|Annuity Guide - January 2017||252.58KB||20th December 2016||Download|
|Taking Cash from AVCs Guide - April 2017||250.64KB||19th April 2017||Download|
|Money Advice Service Guide - Your pension it's time to choose - April 2017||531.51KB||5th May 2017||Download|
|Guidance Note - Timescales for investing your AVCs - January 2017||9.24KB||13th December 2016||Download|