How AVCs could help you

It’s important to plan for your future. You may need more money than you think when you retire as:

  • your savings may not go as far in the future if inflation makes the price of goods and services go up
  • people are generally living longer and spending more time retired, so your savings will need to last you longer
  • the state pension might not be enough to rely on
  • your employer’s pension scheme benefits might not be enough to fund the kind of lifestyle you want in retirement.

Not only are AVCs a smart way to save for your future, they can give you options for how and when you retire. With AVCs you may be able to:

  • retire early, so you could spend more time enjoying the things you like, and protect the value of your employers’ pension, currently from age 55
  • reduce your hours or start working flexibly, by using AVCs to supplement your salary, currently from age 55
  • retire on your planned retirement date, but potentially with more money.

More information

What's an AVC?

Additional Voluntary Contributions, or AVCs, are a separate pot of money you can build up alongside your employer’s pension scheme to give you extra retirement benefits.

AVCs and tax savings

One of the reasons you might choose to save for your retirement with AVCs, alongside your main scheme pension, is the tax savings they offer.

Investment choices

It's up to you to decide which investment option is right for your needs. Watch our 'Understanding your investment options' video for more information.

Existing customers

It’s important to regularly review your AVC pot to make sure you’re on track to achieve the lifestyle you want when you stop working.

Flexible paying in, flexible paying out

Life isn't always as simple as we'd like it to be. Some things take us by surprise and those surprises.