Other additional contributions | Oxfordshire County Council

Other additional contributions

Paying free standing additional voluntary contributions (FSAVCs).

These are similar to in-house AVCs but not linked to the LGPS.

With FSAVCs, you choose a provider, usually an insurance company and you may want to consider their different charges, alternative investments and past performance when you do this.

You choose how much to pay into an FSAVC arrangement but is limited to 100 per cent of your taxable earnings, less your normal pension contributions.

Contribute to a concurrent personal pension plan or stakeholder pension scheme

You may be able to make your own arrangements to pay into a personal pension plan or stakeholder pension scheme at the same time as paying into the LGPS. With these arrangements, you choose your own provider. You may want to consider their charges, alternative investments and past performance when you do this.

You choose how much to pay into the arrangement. You can pay up to 100 per cent of your total taxable earnings in any one tax year (or £3600 if greater) into any number of concurrent pension arrangements of your choice and be eligible for tax relief on those contributions.

If you pay into a personal pension plan or stakeholder pension scheme, the contributions you make to it are invested in funds managed by an insurance company. You have your own personal account that, over time, builds up with your contributions and the returns on your investment, and will be available later in your life to convert into benefits. 

Tax and pension saving

There are limits to the amount of tax free pension saving a person can build up in a year and over a life time. 

There are also increased opportunities for flexible access to your defined contribution pensions, although there may be tax implications    

If you need a pension saving statement in relation to your LGPS benefits with this fund you must request one from Pension Services

We have leaflets about annual and life-time limits 

Pension Services cannot give advice on these matters, and you may need to consult an Independent Financial Advisor with expertise in taxation

The HMRC website can provide additional information.

Last reviewed
16 June 2017
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