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How can I top up my pension?

You can pay up to 80% (including your main scheme contribution) into the AVC policy with Friends Provident. If you want to go further than this you can pay up to around 90% of your earnings into a personal arrangement outside DMGT. Click here to see how you can increase your pension by making additional voluntary contributions.

The Friends Provident policy works differently to your main scheme. You can choose to pay into a range of seven funds. Your contributions are taken directly from your salary and paid straight into your chosen fund(s). You get tax relief in your contributions at your highest marginal rate and your fund will hopefully grow as it receives investment returns.

As an example, if you decide to pay £50 a month as an AVC, 20% of this is given as tax relief so you will actually only be paying £40 a month. The net cost will be even lower for higher rate tax payers.

At retirement we will help you buy a pension from an insurance company using the money in your fund or you might be able to take your entire fund as tax-free cash.