Saving for the future: Shared cost AVCs
We are partnered with My Money Matters to offer staff the opportunity to give up some of their gross salary (before tax) to invest in additional voluntary pension contributions. Shared Cost Additional Voluntary Contributions (AVC) are a tax-efficient way to save for your retirement. Shared Cost AVCs allow you to save National Insurance Contributions in addition to Income Tax on the contributions you pay. They provide an opportunity to supplement your Local Government Pension Scheme (LGPS) and build up an additional retirement fund. You could take this as a tax-free lump sum, or it can be used to help you retire early.
You can take advantage of your this tax-efficient employee benefit today by applying for a Shared Cost AVC scheme here. Registration can be completed using your work or alternatively your personal email address. If you want more information about how the scheme works there is lots of helpful information and webinars available on the My Money Matters website.
If you’ve already got a Shared Cost AVC plan, the run-up to the end of the tax year is a great time to review your contributions and make sure you’re making the most of your allowances. You can manage your contributions here.
My Money Matters is also hosting exclusive webinars in the run-up to the tax year’s end, to help you prepare for the end of the tax year, make the most of this year’s allowance, and do more for your future.
To book:
Wednesday 4 February 2026 2:30pm to 3:15pm
Friday 13 February 2026 10:30am to 11:15am
Key change from April 2029:
Act early to make the most of National Insurance savings. Beginning 6 April 2029, the UK government will introduce a £2,000 annual cap on the amount of salary‑sacrificed pension contributions that are exempt from National Insurance.
What employees say:
“My independent financial adviser recommended making additional pension contributions through my employer as the most effective way to enhance my retirement savings while retaining the option of taking a tax‑free lump sum.”
“The Shared Cost AVC scheme is highly flexible, allowing me to increase or reduce contributions as needed, depending on my circumstances. By using salary sacrifice, my pension contributions cost me less than the amount I put in.”
“I’ve been very satisfied with the service, the simplicity of setting everything up, and the reassurance that I’m taking positive steps to plan for my future.”
“I contribute £83.33 a month but it only costs me £60 due to the tax and NI savings.”
“It was easy to set up my AVCs through My Money Matters website. I’m in the last few years of working before I retire so want to maximise my pension fund. The Shared Cost AVC scheme is a tax efficient way for me to do this. It is also very easy for me to update my plan online.”