Why should I pay AVCs?

AVCs are there to help increase the value of your pension by allowing you to make ‘top up’ payments from your salary, which will lead to a larger pension pot at retirement.

AVCs are a very tax efficient way to save as you will receive tax relief at the highest rate of tax you pay and the gains made whilst your AVCs are invested are also free from tax.

For example:

A basic rate tax payer		A higher rate tax payer
Monthly AVC:	£100	Monthly AVC:	£100
Less tax relief:	(£20)	Less tax relief:	(£40)
Actual cost to you:	£80	Actual cost to you:	£60

Your AVC payments will be invested in a money purchase policy with Friends Provident. If you wish to find out more about paying AVCs, please view our AVC guide for an overview of how AVCs work.

In addition, details of the funds into which you can invest your contributions can be found here.

For an explanation of the differences between the features of the (now closed) with-profits fund in the DMGT AVC Plan and the other AVC investment funds available from your company pension scheme or externally from an insurance company, please click here.

Please note the administrators and the trustees can only provide information in general terms on any aspect of your pension with DMGT. If you would like to speak to an independent financial adviser find one near you at www.unbiased.co.uk.