Paying more

Any contribution you pay over your core amount (7.5%) is classed as additional voluntary contributions (AVCs).

  • You can change/commence AVCs by completing the online application form
  • You receive tax relief on AVCs and if you are in PensionSaver* you will also pay less national insurance so it may not cost as much as you think, check out the online pensions calculator
  • AVCs are added to your pot and you would need to decide where this is invested. To estimate the income you could receive from paying AVCs, why not visit the BlackRock website. If you are not currently paying AVCs you will need to log in as a guest on the website UserID – and Password - Guest123!

*You can start/stop or amend your AVCs at any time. However the PensionSaver arrangement can only be used for regular monthly AVC payments. Therefore to benefit from the additional PensionSaver you can only change/commence AVCs:

  • On 1 April each year

If you are in PensionSaver and wish to increase (including paying one off lump sums) or decrease your AVC’s you will be opted out of PensionSaver on the AVC until the renewal date of 1st of April.

Pensions calculator

Don’t forget that your contributions are taken before you pay any tax or National Insurance so it may not cost as much as you think. Take a look at the contributions calculator to see how much it really costs.

Click here