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, and
  • your LGPS 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, but they can give you options for how and when you retire. With AVCs you may be able to

  • retire early and spend more time enjoying the things you like while protecting the value of your LGPS
  • reduce your hours or start working flexibly, using AVCs to supplement your salary, currently from age 55 (57 from 6 April 2028, unless you have a protected pension age)
  • retire on your planned retirement date, but potentially with more money.

Depending on your circumstances, you may need to transfer your AVC to another pension product to access some of these options.

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More information

What's an AVC?

A quick introduction to AVCs and how they work

AVCs and tax savings

The impact of tax savings on your AVC plan

Flexible paying in, flexible paying out

Choose how you build and access your AVC pot