AVCs - your choice. Your future

New customer looking to apply?

Apply for AVCs

Existing customer looking to increase?

Increase your AVCs

It’s never too soon or too late to think about the difference you could make to your lifestyle later in life. In addition to your Local Government Pension Scheme (LGPS), Additional Voluntary Contributions (AVCs) could be just the thing to help your retirement pot go further.

Find out how AVCs could help you. We cover the basics and all the important details too. AVCs are investments so the value can go down as well as up and you may get back less than you put in.

Understanding your AVC

Infographic step 1

What’s an AVC?

A quick introduction to AVCs and how they work

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Infographic step 2

AVCs and tax savings

The impact of tax saving on your AVC

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Infographic step 3

How AVCs could help you

How AVCs could fit into your plans for the future

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Infographic step 4

Flexible paying in, flexible paying out

Choose how you build and access your AVC pot 

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Case studies: how AVCs could work for you

These case studies show some typical situations, but don’t relate to any particular individuals or circumstances. They aren’t recommendations or advice. To find out what AVCs could mean for you, use our AVC calculator below.

Christine’s had a career break to raise her children and thinks AVCs could help her fill the gaps in her retirement savings.

Frank is close to retirement, but thinks AVCs could give his retirement savings a boost, making his retirement dreams a reality.

Arjun thinks he could use AVCs to potentially retire early or gradually, without reducing his NHS pension benefits.

Kassie thinks AVCs could be a great way to save so she can help her daughter in the future, either with a student loan or buying her first house. 

AVC calculator - what could you get?

Now you are becoming more familiar with how an AVC works, use the AVC calculator below to see what your monthly contributions could turn into. By changing the figures in ‘Your details’ below you can work out how much you might need to achieve your retirement goals. The figures in ‘Your summary’ are only a guide based on the details you enter. Sample illustrations can also be found in the Key Features Illustration in the 'Apply' section of this site.

Your details

Please note you can contribute up to your 75th birthday as long as you are a member of your main pension scheme

Your summary

£0

Your estimated AVC fund value includes

£0
£0

Important information

  • The figures are for illustrative purposes only and are not guaranteed.
  • The figures assume 5% growth each year. The value of your fund can go down as well as up and you may not get back the amount you put in.
  • The figures assume annual management charges of 1% each year. Your charges may differ. Charges can vary in the future and may be higher than they are now.
  • The calculator does not take inflation into account which means that the purchasing power of your fund value will be reduced in the future.
  • The calculator does not take into account annual or lifetime allowances. Please read Important information about pensions allowances as the Government can change these allowances from time to time.
  • The tax savings are an estimate based on your chosen tax band. The tax you pay depends on your individual circumstances. Tax rules may change in the future.

Investment choices made simple

1. Understand the investment options you may have 

Default investment option

if available

If you’d rather not make your own investment choice, this option could be for you.

Lifestyle option

if available

This option aims to provide long term growth with automatic switching of your money into different funds to protect the value of your AVC pot as you get closer to taking your benefits.

Choose your funds

If you’re comfortable choosing your own funds, you can choose up to ten from the risk rated funds available. This could be a good choice if you’re happy being in charge of your investments and fully understand the risks involved.

 

2. Read about the funds available to help you decide

  • Check your Fund Guide for more information and to see which of these options are available to you. If you want information on a particular fund, click on the fund name in your Fund Guide to go to the fund factsheet.

  • It’s up to you to decide which investment option is right for your needs. Watch our ‘Understanding your investment options’ video for more information. 

  • These options aren’t a recommendation from Prudential. If you’re still unsure, speak to a financial adviser.

Choose your Fund Guide

Type your Local Government Pension Scheme name into the box below

3. Make a note of your choice

  • You need to choose which investment option you want before you apply. Once you’ve made a decision, write it down so you have it to hand when you apply.
  • And don’t worry, you can change your investment choice at any time in the future – before, or after you’ve applied.

AVCs are investments so the value can go down as well as up and you may get back less than you put in.

Before you apply for AVCs

It takes approximately 10 minutes to apply, and you can do this online or by calling us.

To apply, you need:
  • bullet your payslip
  • bullet your investment choice
You need to call us if:
  • bullet you're a local councillor
  • bullet you want to make a one-off contribution through your pay and aren’t paid monthly

View an example payslip

You need to read the documents below before you apply. They have important information about the key risks and benefits to help you make a decision.

Download and save and/or print these documents for future reference. Read instructions on how to do this.

  

Important information

Prudential has given no advice on this investment. If you’re unsure if this product is suitable, please get financial advice.

Apply

Our online form is secure. Once you start this application, any data you enter will be temporarily stored by Prudential and its business partners. The data will be deleted if you don’t submit the form, unless you’ve asked us to contact you to help you complete it.

If JavaScript has been disabled within your browser, the content and functionality of the online form might be limited or unavailable. Read instructions for enabling JavaScript. We'd also recommend you upgrade to the latest version of your internet browser for an optimal experience. 

Once you've applied, you’ll receive a confirmation email. Remember you can register to manage your AVC plan online. Take a look at our online account user guide to see how you can get started.

Speak to a Retirement Specialist or apply by phone

You can also start your AVCs by calling our Retirement Specialist Team. They can’t give you advice, but they can help answer any questions you have about AVCs.

0800 032 6674 0800 032 6674

Monday to Friday from 9am to 5pm

To decrease your AVCs or for general enquiries about your existing AVC pot, please call our servicing team on 0345 600 0343. Lines are open Monday to Friday from 8.30am to 6pm.