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Â鶹ÊÓƵ and Homes employees who are members of the LGPS have the option to increase their pension benefits through the Shared Cost Additional Voluntary Contribution Scheme (Shared Cost AVC Scheme).

The Shared Cost AVC Scheme offers you:

• a cost-efficient way to invest in your financial future
• a way to save for your future alongside your LGPS
• help to make Income Tax and National Insurance contribution savings

The Council is working with experts at AVC Wise to deliver straightforward, actionable information to our LGPS members.

How it works

• The member chooses their contribution amount, and all but £1 of this is taken via salary sacrifice (this is what makes it 'Shared Cost')
• The total contribution amount is sent to a separate 'pot' that sits alongside the LGPS main scheme pension, and this pot is held by your employer's AVC provider of choice
• Because it's processed via salary sacrifice, the contributions make savings in Income Tax and National Insurance contributions, making this a very valuable way to save for retirement
• The Shared Cost AVC pot can also be accessed at retirement in a variety of ways
• LGPS members could even withdraw the Shared Cost AVC pot 100% tax free at retirement

You can make your Shared Cost AVC application at .

To find out more about AVC Wise, see .