Buying added pension

classic, classic plus, premium, nuvos and alpha members can opt to pay extra contributions to buy added pension.

Additional Voluntary Contributions (AVCs)

From 1 September 2018 members of classic, classic plus, premium, nuvos and alpha are able to make AVCs through a new arrangement with Legal & General.

AVC benefit statements

The AVC providers will produce a benefit statement for each member that includes a Statutory Money Purchase Illustration (SMPI).

Effective Pension Age (EPA)

Members of alpha are able to pay an additional contribution to buy an EPA portion of the pension. This portion can be paid (without any early payment reduction) before a member’s Normal Pension Age (NPA).

Published:
4 January 2022
Last updated:
13 January 2022