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Additional voluntary contributions outside scheme
The Education Departments in the UK have negotiated a Teachers’ Additional Voluntary Contributions scheme with the Prudential Assurance Company.
You can choose to pay additional voluntary contributions to the Prudential in order to buy extra pension benefits. You may pay AVCs to increase your own pension, any dependants’ pensions, the death gratuity, or any combination of these. You agree with the Prudential the amount which you wish to pay (subject to HM Revenue & Customs limits) and deductions are made from your salary.
The Prudential provide an information pack upon request and may be contacted at:
AVC Customer Services
Prudential
Craigforth
Stirling
FK9 4UE
Customer Call Centre: 0845 070 0007
Extra benefits entitlement through AVCs is paid separately by the Prudential. The Department's only role is to advise the Prudential of the date from which your pension becomes payable and of the maximum pension which you are entitled to receive under HM Revenue & Customs’ rules.
NB The Department cannot advise you about which type of AVC you should choose. You may wish to obtain advice from an Independent Financial Adviser.
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