Additional Voluntary Contributions (AVCs) are a way of saving money towards your pension pot. Once started, any fund value cannot be released until you take your main scheme benefits.
All local government pension funds have an in-house AVC scheme. Contributions are deducted from your salary before tax, so they therefore attract tax relief at your tax rate (e.g. 20% or 40%). The money deducted is invested in the fund of your choice with Gwynedd’s AVC provider, Clerical Medical.
The terms are different for members who have started paying for the AVC before 1st April 2014. Click on the relevant link below for more information on the options available: