{"id":469,"date":"2018-07-25T14:13:11","date_gmt":"2018-07-25T14:13:11","guid":{"rendered":"http:\/\/pensions.cardiffcouncilwebteam.co.uk\/?page_id=469"},"modified":"2019-02-11T10:32:47","modified_gmt":"2019-02-11T10:32:47","slug":"additional-voluntary-contributions","status":"publish","type":"page","link":"https:\/\/www.cardiffandvalepensionfund.org.uk\/councillors\/additional-voluntary-contributions\/","title":{"rendered":"Additional Voluntary Contributions"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row top_padding=&#8221;0&#8243; bottom_padding=&#8221;0&#8243;][vc_column width=&#8221;1\/1&#8243;][vc_column_text]<\/p>\n<h1>Additional Voluntary Contributions<\/h1>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row top_padding=&#8221;35&#8243;][vc_column width=&#8221;2\/3&#8243;][vc_column_text]All Local Government Pension Funds have an in-house Additional Voluntary Contribution Scheme (AVC), the Cardiff and Vale of Glamorgan Pension Fund AVC providers are Prudential.\u00a0 If you decide to pay AVCs the money is paid directly from your pay, so you will receive income tax and National Insurance relief.\u00a0 Your AVC contributions are invested every month until your chosen retirement date.\u00a0 When you retire you will have the option to convert your AVC fund into either:<\/p>\n<ul>\n<li>additional pension<\/li>\n<\/ul>\n<p>or<\/p>\n<ul>\n<li>tax free lump sum &#8211; subject to HMRC limits<\/li>\n<\/ul>\n<p>or<\/p>\n<ul>\n<li>combination of both<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>After all statutory deductions have been made, you can contribute up to 100% of your monthly allowance into your AVC fund.<\/p>\n<p>You are also able to amend your contribution rate and your investment fund choice as many times as you like &#8211;\u00a0 to make these change please ring Prudential on\u00a0<i class=\"fa fa-phone\"><\/i><a title=\"Call Prudential for investment advice\" href=\"tel:03456000346\"> 0345 600 0346<\/a> Monday to Friday between 8.30am and 6pm.<\/p>\n<p><strong>What if I started paying AVCs on or before 31 March 2014?<\/strong><br \/>\nYour AVC contribution cannot exceed <strong>50%<\/strong> of your monthly pay, after all statutory deductions have been made.<\/p>\n<p>For further information you can visit the <a href=\"https:\/\/www.pru.co.uk\/rz\/localgov\/\" target=\"_blank\" rel=\"noopener\">Prudential website <i class=\"fa fa-external-link\" aria-hidden=\"true\"><\/i><\/a> or you can call them on:<\/p>\n<ul>\n<li><i class=\"fa fa-phone\"><\/i> <a title=\"Call Prudential for AVC's\" href=\"tel:08000326674\">0800 032 6674<\/a> &#8211; to talk to them about start paying AVCs<\/li>\n<li><i class=\"fa fa-phone\"><\/i> <a title=\"Call Prudential for general enquiries\" href=\"tel:03456000343\">0345 600 0343<\/a> &#8211;\u00a0 for all general enquiries such as increasing or decreasing your contribution<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column][vc_column el_class=&#8221;siderow&#8221; width=&#8221;1\/3&#8243;][vc_column_text el_class=&#8221;boxblue&#8221;]<\/p>\n<h3>HMRC<\/h3>\n<p>If you have any questions relating to your personal tax or National Insurance in relation to your pension you can find information here.<\/p>\n<p><a href=\"https:\/\/www.gov.uk\/government\/organisations\/hm-revenue-customs\" target=\"_blank\" rel=\"noopener\">HMRC <i class=\"fa fa-external-link\" aria-hidden=\"true\"><\/i><\/a>[\/vc_column_text][vc_column_text el_class=&#8221;boxblue&#8221;]<\/p>\n<h3>Pensions Advisory Service<\/h3>\n<p>Government service offering free, impartial guidance about pensions.<\/p>\n<p>What\u2019s available?<\/p>\n<p>Online information and tools, online chat, telephone helpline, personal appointments.<\/p>\n<p><a href=\"https:\/\/www.pensionsadvisoryservice.org.uk\/\" target=\"_blank\" rel=\"noopener\">The Pension Advisory Service <i class=\"fa fa-external-link\" aria-hidden=\"true\"><\/i><\/a>[\/vc_column_text][vc_column_text el_class=&#8221;boxblue&#8221;]<\/p>\n<h3>Need an Independent Financial Advisor?<\/h3>\n<p><a href=\"https:\/\/www.unbiased.co.uk\/\" target=\"_blank\" rel=\"noopener\">Contact Unbiased <i class=\"fa fa-external-link\" aria-hidden=\"true\"><\/i><\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row top_padding=&#8221;0&#8243; bottom_padding=&#8221;0&#8243;][vc_column width=&#8221;1\/1&#8243;][vc_column_text] Additional Voluntary Contributions [\/vc_column_text][\/vc_column][\/vc_row][vc_row top_padding=&#8221;35&#8243;][vc_column width=&#8221;2\/3&#8243;][vc_column_text]All Local Government Pension Funds have an in-house Additional Voluntary Contribution Scheme (AVC), the Cardiff and Vale of Glamorgan Pension Fund AVC providers are Prudential.\u00a0 If you decide to pay AVCs the money is paid directly from your pay, so you will receive income tax and National Insurance relief.\u00a0 Your AVC contributions are invested every month until your chosen retirement date.\u00a0 When you retire you will have the option to convert your AVC fund into either: additional pension or tax free lump sum &#8211; subject to HMRC limits or combination of both &nbsp; After all statutory deductions have been made, you can contribute up to 100% of your monthly allowance into your AVC fund. You are also able to amend your contribution rate and your investment fund choice as many times as you like &#8211;\u00a0 to make these change please ring Prudential on\u00a0 0345 600 0346 Monday to Friday between 8.30am and 6pm. What if I started paying AVCs on or before 31 March 2014? Your AVC contribution cannot exceed 50% of your monthly pay, after all statutory deductions have been made. For further information you can visit the Prudential website [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":140,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Additional Voluntary Contributions - Cardiff and Vale Pension Fund<\/title>\n<meta name=\"description\" content=\"If you decide to pay AVCs the money is paid directly from your pay, so you will receive income tax and National Insurance relief.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cardiffandvalepensionfund.org.uk\/councillors\/additional-voluntary-contributions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Additional Voluntary Contributions - 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