Additional Voluntary Contributions (AVCs) are particularly useful if you are thinking of retiring early or if you need to make up for time when you were not paying into a pension Scheme/Plan.
The Pension Scheme/Plan has appointed the Prudential Assurance Society and Legal and General as the investment providers for AVCs. They offer a range of investment accounts and you should refer to the separate AVC booklet, which can be found on the Scheme Booklets page. AVC investment guides are also available for: Jaguar and Land Rover
For Land Rover Pension Scheme and Jaguar Pension Plan members (including the Halewood section), you can continue to make extra payments into AVCs to increase your Scheme/Plan benefits if you were doing so on a regular basis (monthly or weekly) before 6 April 2013.
To increase your AVCs, you will need to complete an ‘AVC Contribution Form,’ and to change your investment choices, you will need to complete an ‘AVC Investment Change Form.’ The respective forms can be downloaded below:
If you were not making regular AVC payments before 6 April 2013, you will not be eligible to commence AVC payments with the Prudential Assurance Society or Legal and General. However, for Land Rover Pension Scheme and Jaguar Pension Plan members (including the Halewood section), the Jaguar Land Rover Defined Contribution Fund can be used as an alternative AVC facility.
In order to commence AVC payments into the Jaguar Land Rover Defined Contribution Fund, you will need to complete a‘ JLR Joining Form – additional payments‘
Further information on the range of investment funds and charges can be found here
AVC Review Documents
Below you will find the documents and links referenced in the recent AVC communication
Link to the L&G funds – note that this microsite also refers to sources of advice etc
Guidance on need to seek financial advice:
Explanation between different types of advisers:
Link to unbased