Additional Voluntary Contributions

Contributions above 5% are known as AVCs.

Additional Voluntary Contributions (AVCs) are extra payments you can make to help increase your benefits at retirement.

Your contributions up to 5% of pensionable salary are particularly valuable in your retirement saving because they receive two-for-one double-matching contributions from the Company. However, you don’t need to stop at the 5% level because contributions above that are still very worthwhile in boosting your pension.

In particular, AVCs:

  • are deducted directly from your pay and are also paid through salary sacrifice so you get National Insurance relief and they are free from tax at your highest rate
  • are invested alongside your core contributions and the Company's double-matching contributions in the same investment funds you select
  • can be changed at any time subject only to one month’s notice as required for payroll administration.