An Additional Voluntary Contribution (AVC) is where payments are taken directly from your pre-tax salary and are put into an investment fund, which grows over time and helps to boost your retirement savings.
Additional Voluntary Contributions (AVCs) with Standard Life
An AVC is an arrangement that allows you to build up pension benefits with our AVC provider, Standard Life, alongside your LGPS pension.
For further information on AVCs please visit Boosting Your Benefits on the LPPA website. For information on how to apply please see below:
Applying for an AVC
If you are interested in an AVC it is important that you fully understand what the investment entails, and you make an informed decision. The LGPS recommends that you seek independent financial guidance from Pension Wise – a free, government service from MoneyHelper that offer impartial advice to help you understand your AVC options.
How to apply for your AVC
For information on the Group AVC plan please visit the Standard Life Website. The investment options booklet can be viewed on the Important Documents page.
Please complete the ‘Standard Life AVC Form’ and upload this via the secure online contact form on the LPPA website. Upon receipt of your AVC form, LPPA will process this with Standard Life who will then request LPPA to issue instructions to your employer or payroll provider to request that they start deducting your AVC contributions and commence paying them to Standard Life. Once this has been actioned you will receive a membership certificate from Standard Life together with a welcome pack.
Within the welcome pack, you will find details of joining Standard Life’s online portal. We encourage that you do this promptly to be able to view your investment and keep your details up to date.
Historical AVCs – Utmost (previously known as Equitable Life)
Our previously AVC service provider was Equitable life, now known as Utmost Life and Pensions Limited. Any historical AVCs that were invested with Equitable Life are now managed by Utmost Life and Pensions Limited. If you have a previous arrangement or are currently contributing to an AVC with Utmost Life and Pensions Limited and you would like to make changes to your investments/plan, please register to access the online member’s portal available through the Utmost Website.