Paying into IWDC

Are you saving enough?

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It's great that you're already saving towards your pension - but will it be enough? 

Think carefully about how much you'll need when you retire. remember, you'll have bills to pay, maybe a car to run, and you might want extra to pay for holidays, hobbies or socialising.
 
Log in to your myRPS account (or register if you haven't already) and use the lifestyle calculator in the 'Planning my future' section to see how much you might need.

​Saving more with AVCs

You can boost your pension savings by paying Additional Voluntary Contributions (AVCs).

Like your normal contributions, these are taken from your pay before tax. You may also be able to pay AVCs through salary sacrifice if your employer offers this option.

How AVCs work

 You decide:

  • how much extra you want to contribute (check www.hmrc.gov.uk/pensionschemes for details on limits)
  • how you invest your contributions
  • when you start and stop making contributions

 You might like to consider AVCs if you:

  • have earnings which don’t count towards your IWDC pension, such as bonuses or overtime
  • are thinking about taking your benefits early (if you are eligible), or
  • you simply want to save a bit more towards your future.

Important: You must start taking your AVC benefits at the same time as your normal IWDC benefits.

Please complete the form below if you'd like to start paying AVCs.

Are AVCs right for you?

It is strongly recommended that you speak to an independent financial adviser (IFA) before making any decisions about your financial future. You can find a list of IFAs in your area at www.unbiased.co.uk.

 

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Are you saving enough?

​Use ​the Lifestyle Calculator in the 'Planning my future' section of myRPS to estimate how much you might need when you retire. REGISTER OR LOG IN TO myRPS »

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    Register at myRPS to review and manage your IWDC pension online

    REGISTER NOW »


Watch and learn

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AVCs explained