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Additional Voluntary Contributions (AVCs)
You can boost your pension by paying more contributions, which you would get tax relief on:
Paying Additional Voluntary Contributions (AVCs) through pay is about building an extra pot of money, which is invested and can help you retire early, or have more money available to spend.
If you’re a member of the Local Government Pension Scheme (LGPS), you can increase your benefits by paying extra contributions, known as Additional Pension Contributions (APCs), to buy extra LGPS pension, or by making AVC payments to a separate fund invested by Prudential. Your pension fund can give you more information on these options so that you can decide what is right for you.
If you decide on AVCs, contributions are deducted directly from your pay before your tax is worked out, so, if you pay tax, you receive tax relief automatically and your investment costs you less money. We offer an additional benefit called Shared Cost AVCs (SCAVCs), where, as well as receiving full Income Tax savings, you won't pay National Insurance Contributions (NICs) on the amount of pay that you have sacrificed.
For more information visit the Dorset Pension Fund website.
Workplace bikes
We are pleased to offer a workplace bike scheme. This is part of a government initiative to promote environmentally friendly methods of transport with the opportunity to have a new, modern bike for a low monthly cost. It also decreases the amount of tax and national insurance you pay on your income.
Details are available from your school office.