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Save for your retirement through our Salary Sacrifice Shared Cost AVC Scheme

25 April 2023

If you’re a member of the Local Government Pension Scheme (LGPS), you can boost your pension benefits for retirement through our Salary Sacrifice Shared Cost AVC scheme.

The scheme was launched a year ago and there are already more than 600 employees who are benefiting. It’s one of the most effective ways to boost your pension benefits for retirement. You will make valuable Income Tax and National Insurance contribution savings on your Salary Sacrifice Shared Cost AVC payments and have the flexibility to choose and change your contribution amount as and when you need to – you can pay from as little as £2 per month.

Paying £50 per month will only cost a basic rate taxpayer £33.51. That’s an immediate saving of £16.49.

Visit the AVC Wise website where you can access a wealth of information about the scheme including an online calculator, frequently asked questions and explainer videos.

There are also webinars available which explain how you can benefit from the scheme. To book onto one of these webinars you will need to register for the AVC webinar and click on the ‘events’ tab where you can book on a number of generic webinars.

There are also webinars which are bespoke to Derbyshire LGPS members:

How to retire early and with more money

A 45-minute webinar which will give you an insight into how shared cost AVCs can provide a unique savings opportunity that not only benefits you today, but also at the point of your retirement.

  • Tuesday 16 May at 10.30am
  • Thursday 18 May at 5.30pm
  • Wednesday 24 May at 12.30pm

Your retirement options explained

A 45-minute webinar which will help you plan for life after work and covers the LGPS, your investment options and the many benefits of Shared Cost AVCs:

  • Wednesday 17 May at 12.30pm
  • Tuesday 23 May at 5.30pm
  • Thursday 25 May at 10.30am