AVCs: Boosting my benefits

As a member of the RPS, you’ve already taken a big step towards planning for your future – but have you considered boosting your retirement ​fund a bit further?

One way to do this is with Additional Voluntary Contributions (AVCs). These are tax-free contributions that you can make on top of ​your normal pension contributions.

How AVCs work

The contributions you pay in as AVCs​ aim to provide extra benefits at retirement. You choose how much you want to pay and, subject to certain limits, AVCs are taken from your pay before tax.

Do you have to pay AVCs?

It's entirely up to you, but AVCs may be something you want to consider if you:

• have earnings which don’t count towards your RPS pension, such as bonuses or overtime
• are thinking about taking your benefits early (if you are eligible) or
• simply want to save a bit more towards your future

AVC options

The RPS offers two AVC arrangements – BRASS and AVC Extra. 

Are AVCs right for you?

You should decide what's right for your unique needs. It’s strongly recommended that you speak to an independent financial adviser (IFA) regulated by the Financial Conduct Authority. You can find IFAs in your local area at unbiased.co.uk.

Watch the short video below to learn more about AVCs and how they might work for you...

The video below will help you understand investment risk and the level of risk you feel comfortable taking.