Can I increase my benefits?

Yes, you can! You have the option to pay extra contributions through Additional Voluntary Contributions (AVCs).

Although the Company does not match members’ AVCs, they are still an efficient way to save for many members because these contributions are also eligible for tax relief. So, if you are paying tax at the rate of 20%, every £1 that you save will only cost you 80p. Please see the table below for a few examples:

AVC per pay period Tax relief at 20% Cost to you










You may pay up to 100% of your Contributory Salary in Scheme contributions and AVCs. However, if when you add the AVCs that you have paid in a year (and contributions to any other schemes) to the increase in the value of your pension, and they exceed the Annual Allowance (AA), you will have to pay tax at your marginal rate on the excess amount over the AA. For further information, please click here.