How can I increase my benefits?

As an active member of the Scheme, you can pay Additional Voluntary Contributions on top of your regular contributions to increase the level of the benefits you will receive from the Scheme.

Added Years AVC

By paying Added Years AVCs you can buy additional service in the Scheme which will increase the level of your pension at retirement. You will get tax relief on any extra contributions you pay since they will be classed as ‘pension savings’.

Money Purchase AVC

The Scheme includes a facility to pay money purchase AVCs and build up a fund which can be used to top up the benefits payable from the Scheme when you retire. You will have control over how your fund is invested so you can take into account your target retirement age and attitude to risk. Unlike Added Years AVCs, you can change the amount you pay into your fund from time to time or you can stop and restart making contributions if you find it necessary to do so.

There’s more information in Factsheet 5 Topping Up Your Benefits.