Already a member of the LGPS

Topping up benefits

You may wish to top up your pension and there are a four ways you can do this:

  1. Additional Voluntary Contributions (AVCs). This is an in-house option offered through Prudential. Checkout their online presentations to help you decide if AVCs are right for you. There is also a guide to AVC’s in the LGPS which may help with your decision.
  2. Buying Additional Pension Contributions (APCs). You can elect to buy additional pension by taking out an Additional Pension Contribution (APC) contract.  You can purchase additional pension up to a maximum amount each year which is increased each April by Pensions Increase Orders. The maximum additional pension purchase limit for 2020/21 is £7,194 from 1 April 2020. For more information on buying an APC please read the factsheet Topping up your LGPS Pension
  3. Free standing additional voluntary contributions (FSAVCs). These voluntary contributions would be made to a company of your choice.
  4. Paying into a stakeholder or personal pension plan. This arrangement is outside the scope of the LGPS.

Whichever of the first two choices you choose, the extra contributions will come straight out of your pay.  Because they all count as pension contributions, you will get tax relief if you are a tax payer. However, you will have to pay the full cost yourself as, unlike your normal benefits, these extra benefits aren’t subsidised by your employer. We strongly suggest you read our Buying Additional Pension guide and then if you require any further information please contact us.

Do you currently contribute to the in-house AVC with the Prudential? If you are currently contributing to our in-house AVC with the Prudential you can access your account online. This allows you to view your current fund choices, as well being able to switch funds and redirect future contributions into the different funds available to your scheme.

Check the document Prudential AVC ECommerce Guide for a brief guide on how to use the online facility.