Increasing your benefits
You can buy more LGPS pension by paying Additional Pension Contributions (APCs). Find out more information on the LGPS website: LPGS Additional Pension Contributions calculators.
You can also make Additional Voluntary Contributions (AVCs) to our in-house AVC scheme administered by Scottish Widows. Find out more information on their website: Scottish Widows in-house AVC.
An AVC could reduce the tax you pay. And at retirement you could be able to take 100% of your AVC fund as tax-free cash, provided your total tax-free cash does not exceed HMRC’s limit of one quarter of the capital value of your LGPS and AVC benefits. Capital value is calculated as 120 / 7 * your annual pension at retirement plus 10 / 7 * your lump sums at retirement.
There are also HMRC controls on the pension savings you can have before you become subject to a tax charge. Most people will not be affected by these controls.