This is just one of the ways of topping up your benefits. Short for Additional Voluntary Contributions, AVCs are simply a form of investment to build up a separate pot of money, which you draw as a separate pension, and, if you like, at least some of its value as a tax free lump sum. Funds like us use outside AVC providers to run their in house AVC schemes, and we have chosen Prudential.
There is no minimum amount, and you can either pay a fixed amount into your AVCs, or a percentage, so the amount changes if your pay changes. Also, there is no specific upper limit on AVCs, but there are overriding tax limits which can be an issue if you are one of our better paid members and/or have long service. Prudential can help you check these.
A range of investment choices
Prudential offer a wide range of investment choices, so that you can choose a product that matches your attitude to risk. Prudential have produced a guide to the various investment choices and a flyer which you can read by clicking the links below:
- A guide to fund options by Prudential
- AVC flyer by Prudential (44 KB)
Taking it further
To find out more about AVCs or to go ahead, please call Prudential on 0800 032 6674 or download an application form at Prudential's LGPS Retirement Zone . For general enquiries about your existing AVCs, please contact Prudential on 0345 6000 343.