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
What’s an AVC?
A quick introduction to AVCs and how they workRead more
AVCs and tax savings
The impact of tax saving on your AVCRead more
How AVCs could help you
How AVCs could fit into your plans for the futureRead more
Flexible paying in, flexible paying out
Choose how you build and access your AVC potRead more
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.
Default investment option
If you’d rather not make your own investment choice, this option could be for you.
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.
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
- Bedfordshire Pension Fund Berkshire Pension Fund Bexley Council Buckinghamshire County Council Cambridgeshire County Council Pension Fund Cardiff & Vale of Glamorgan Pension Fund City and County of Swansea Pension Fund City of London Pension Fund Clwyd Pension Fund Croydon Council Pension Fund Cumbria Pension Scheme Derbyshire County Council Pension Fund Devon County Council Pension Fund Dorset County Council Pension Fund Durham County Council Pension Fund Dyfed Pension Fund East Riding Pension Fund East Sussex County Council Pension Fund Environment Agency Active Pension Fund Essex County Council Pension Fund Falkirk Council Pension Fund Fife Council Pension Fund Gloucestershire County Council Pension Fund Greater Manchester Pension Fund Hampshire Pension Fund Highland Council Pension Fund Isle Of Wight Council Pension Fund Kent County Council Pension Fund Lancashire County Pension Scheme Leicestershire County Council Pension Fund Lincolnshire County Council Pension Fund London Borough Of Barking & Dagenham Pension Fund London Borough of Barnet Pension Fund London Borough of Brent Pension Fund London Borough of Camden Pension Fund London Borough of Enfield Pension Fund London Borough of Hackney Pension Fund London Borough of Haringey Pension Fund London Borough of Harrow Pension Fund London Borough Of Havering Pension Fund London Borough Of Hillingdon Pension Fund London Borough of Islington Pension Fund London Borough of Lambeth Pension Fund London Borough Of Merton Pension Fund London Borough of Sutton Pension Fund London Borough Of Wandsworth Pension Fund London Pensions Fund Authority Lothian Pension Fund Merseyside Pension Fund Norfolk County Council Pension Fund North East Scotland Pension Fund North Yorkshire County Council Pension Fund Northamptonshire County Council Pension Fund Northern Ireland Local Government Pension Scheme Northumberland County Council Pension Fund Nottinghamshire County Council Pension Fund Orkney Islands Council Pension Funds Oxfordshire County Council Pension Fund Powys County Council Pension Fund Rhondda Cynon Taff Pension Fund Royal Borough of Kensington & Chelsea Pension Fund Shetland Islands Council Pension Fund Shropshire County Pension Fund Somerset County Pension Fund South Yorkshire Pension Fund South Yorkshire Transport Authority Pension Fund Strathclyde Pension Fund Surrey County Council Pension Fund Tayside Pension Fund Teesside Pension Fund Tyne & Wear Pension Fund West Midlands Pension Fund West Yorkshire Pension Fund Wiltshire Pension Fund
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
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.
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.
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.
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.