Did you know that as a Local Government Pension Scheme (LGPS) member, you have exclusive access to a valuable employee benefit scheme that can help boost your pension pot – Shared Cost?
The Council works with My Money Matters who are experts at financial health and wellbeing, both now and planning for your pension.
The Shared Cost Additional Voluntary Contributions (AVC) Scheme enables you to make additional pension contributions. Through salary sacrifice, you can receive immediate Tax and National Insurance savings, meaning more of your money stays in your pocket and you have total flexibility to adjust contributions wherever needed.
Savings example
If you decide to top up your pension by £100 a month, the Shared AVC will only cost you £72.08.
If you contribute that amount in an AVC for the next 15 years, your pot could be worth £22,697.27 but it would have only cost you £12,974.40.
Webinars
To learn more, the team at My Money Matters offers a range of webinars covering all aspects of financial planning. To book, visit their website
- APCs vs SCAVCs – What’s the difference?
- How to retire early and with more money
- Your retirement options explained
- The five year dilemma
- ISAs vs SCAVCs
- Understanding the LGPS
- The importance of topping up
