Making Additional Contributions

You can increase your retirement pension by paying Additional Regular Contributions (ARCs) or paying into the council’s Additional Voluntary Contributions (AVCs).

Additional Regular Contributions (ARCs)

Extra pension can be purchased in units of £250 a year up to a maximum of £5000 a year. The maximum number of units is 20 i.e (20 x £250 = £5000). Ten units would be 10 x £250 = £2500

The cost will depend on:

• The amount of pension you want to purchase
• The period over which you want to make the payments
• Whether you want to include extra dependents’ benefits

Ready Reckoner

The Ready Reckoner is a simple tool that will help you work out the monthly contribution required and the total cost.*

Enter:

• Age
• Gender
• Dependents option
• Number of years over which payments are to be made (must cease by age 64)
• Annual pension to be purchased (units of £250)

Re-enter any of the above details to recalculate the cost.

You can download the Ready Reckoner Calculator in the attached files section below (NOTE that you need to click the Enable Macros button for the calculator to be fully operational).

An Additional Regular Contributions (ARCs) application form can be found in the attached files section below.

*The Government Actuary determines the rates payable and these may change in the future. If the rates change, you will be required to pay the revised rate.

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Additional Voluntary Contributions (AVCs)

As an alternative to ARCs you can pay into the Council’s AVC scheme. More information on ARCs and a comparison between ARCs and AVCs can be found in the attached files section below.

If you want to enquire about AVCs please ring the Council’s AVC Providers:

• Prudential on 0845 6000 343
• Clerical and Medical on 0870 8500 581 ref T0256

Disclaimer:

This page cannot cover every personal circumstance. In the event of any dispute over your pension benefits the appropriate legislation will prevail. This does not confer any contractual or statutory rights and is provided for information purposes only.

• More detailed information about the scheme is available if you email the Pensions Team.

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Attached Files