Maximising Additional Voluntary Contributions (AVCs) for 2021-22
The maximum you can pay in AVCs to the Fund is 15 per cent of gross earnings less your standard Pension Fund contributions.
If you are considering maximising your AVCs before the tax year end you need to make sure you allow enough time for your request to be processed. The pensions team will need to check that the amount you are planning to pay does not take your total contributions above the maximum limit and the payroll team will then need to update the payroll system to amend your AVC deduction.
In addition, you'll need to consider the impact to your overall pension benefits as well as the impact on your pension input and Annual Allowance for the tax year.
|Payroll group 10||Wednesday 9 March 2022|
|Payroll group 11||Wednesday 9 March 2022|
|Payroll group 15||Wednesday 9 March 2022|
|Payroll group 20||Wednesday 23 February 2022|
|Payroll group 25||Wednesday 23 February 2022|
|Payroll group 42||Tuesday 8 March 2022|
|Payroll group 61||Friday 25 March 2022|
If you are not sure which payroll group you are paid under, please check your latest payslip.
For further information, contact the Fund Office on 020 7126 400 (auto 64000).
9 November 2021