Saving more with AVC Extra

If you've already paid the maximum limit into BRASS, you could continue saving more with AVC Extra. Find out how.

An introduction to AVC Extra

AVC Extra is an Additional Voluntary Contribution (AVC) arrangement. It is open to Scheme members who already pay the maximum amount that you can pay into BRASS and still want to pay more. 

AVC Extra is not available to Network Rail members. However, as a Network Rail member you can pay into BRASS. Learn more about BRASS on the saving more with BRASS page.

A glass jar, holding a large amount of coins. The jar is labelled AVC Extra
How AVC Extra works

Your AVC Extra contributions are paid into your Personal Retirement Account (PRA). This is an additional pot of money, held separately to your BRASS pot and your main DB pension with the Scheme.

Much like BRASS, your AVC Extra PRA is invested in a range of funds, with the aim of helping it grow over time. 

You can choose to manage your own funds or have them managed for you. You can also check and change your fund choices at any time. 

Depending on your age, you may not have to take your AVC Extra pot at the same time as you take your main Scheme DB pension. But you must take your AVC Extra pot by your 75th birthday.  

Check the following pages for more information: 

How much you can pay into AVC Extra

You can choose how much you want to pay into AVC Extra, but you should be mindful of tax limits.

Regular AVC Extra contributions are taken from your pay by your payroll department and, like your contributions to the Scheme and to BRASS, they benefit from tax relief.  

You can also make one off payments into AVC Extra if you wish. This needs to be done through your employer.  

You can change or stop your AVC Extra contributions if you wish. Check the managing my AVC Extra page to find out how.

Tax limits

Read more about the Annual Allowance and Lifetime Allowance in the Read as You Need guide for AVC Extra members. Download it below. 

How to join AVC Extra

You can join AVC Extra if:

  • you are already a contributing member of the Scheme
  • you are a contributing member of BRASS — the Scheme's main Additional Voluntary Contribution (AVC) arrangement, and;
  • you are already contributing the maximum amount you’re allowed to pay into BRASS. Find out more on the saving more with BRASS page.

If you meet the criteria above and want to join AVC Extra please speak to your employer.

AVC Extra is not available to Network Rail members. However, as a Network Rail member you can pay into BRASS. Find out more in the Read as You Need guide for Network Rail members of BRASS. 

You may want to consider getting financial advice before you join BRASS or AVC Extra. Check the guidance and advice page for details.

 
Where to find more information about AVC Extra

For more information, please check the Read as You Need guide for AVC Extra members. 

What to read next...

Managing my AVC Extra

How to check, and make changes to, your AVC Extra account. 

AVC Extra fund choices 

Learn more about the different investment options available to you with AVC Extra

Taking my AVC Extra

Understand the ways you can take the savings from your AVC Extra pot