Additional Voluntary Contributions (AVCs)

You can only make AVCs if you are an employed member of the Plan. As an employed member of the Plan, you can save more money for retirement in a tax-efficient way by making AVCs over and above your normal Plan contributions. You can use AVCs at retirement as part of your tax-free cash sum or to buy extra pension.

Your total contributions to the Plan, including both normal member contributions and AVCs, cannot exceed 15% of your total taxable earnings in any tax year. Taxable earnings include any bonuses or P11D earnings (benefits in kind), subject to the Plan earnings cap.

AVCs can be paid in regular instalments or as single, one-off contributions. Full tax-relief will automatically be calculated and applied by payroll.

You can also pay into pension arrangements outside of the Plan, such as a personal pension, at the same time as contributing to the Plan. You will receive tax relief on contributions of up to 100% of your annual earnings (or £3,600 if greater) subject to the Annual Allowance.

The Plan's AVC arrangement is set up with Friends Life and is explained in the booklet Explaining your AVCs. You can also find up-to-date details of the available investment funds in the leaflets The Funds, AVC Lifecycle Options and The Charges.

You may also find answers to some of the questions you might have about AVCs in the AVCs factsheet. If you have any further questions, please contact the Pensions Department.

If you would like to start making AVCs, or to increase your AVCs, you can download the AVC Application Form.