AVCs are deducted from pay in the same way as your standard pension contributions and invested with Standard Life. AVCs can be used to purchase additional benefits in the Plan, and part of your AVC account can be taken as a cash lump sum.

The total of your AVC contributions, must not exceed 10% of your PAYE earnings, including any taxable benefits, in any tax year. Please note that this 10% limit is in addition to your normal standard contributions to the Plan. AVCs qualify for tax relief in the same way as normal contributions to the Plan, making them an attractive form of investment. AVCs must cease when you stop making ordinary contributions to the Plan and will be dealt with at the same time as your Plan benefits are paid.

At retirement, the benefits from your AVCs will be added to your other Plan benefits. The total of these will then be assessed against your Lifetime Allowance.

As an alternative, you may contribute to a private pension provided by an external pension provider. If you would like more information about this option, please contact your financial adviser.

If you are interested in paying AVCs to the Plan and would like to find out more about the investment opportunities please click here.

If you would make an application to pay AVCs to the Plan, an AVC application form is available.

If you want to make an application to pay AVCs to the Plan, please click here to download an application form.

If you are an existing AVC payer and would like to change either your current contributions, or your investments, then forms are available from the Pension Forms page.