Local Government Pension Scheme – Additional Voluntary Contributions (AVCs) – new online platform for Council maintained schools only
AVCs allow employees in the Local Government Pension Scheme (LGPS) to pay additional contributions to increase their pension when they reach retirement. They are an efficient way to save for retirement as they attract tax relief and National Insurance savings through your pay. This is known as a salary sacrifice Shared Cost AVC.
The Council is working with AVC Wise to provide an online platform to launch on 4 July enabling staff to set up, view and amend their AVCs. AVC Wise also provides information and webinars about AVCs, as well as wider information and 121 advice about the LGPS and options at retirement.
Staff who currently pay AVCs will be contacted separately with more details. Please encourage your staff to register on the website and find out more by visiting www.AVCWise.co.uk. There is also more information on Inside Devon at https://inside.devon.gov.uk/task/pension-with-devon-county-council/salary-sacrifice-for-additional-voluntary-contributions/.
Published21 June 2022
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