Additional Voluntary Contributions

By investing in the NHS pension scheme you’ve taken the opportunity to contribute towards a more secure retirement. However, if you want the pension you receive in retirement to financially assist you as would be expected in later life, you may need to add to your NHS Retirement Benefits.

The NHS has joined with Standard Life to provide you with the opportunity to top-up your pension.  You can top-up your NHS pension with a Stakeholder Pension Plan or Group Additional Voluntary Contributions Plan (Group AVC Plan) from Standard Life - aiming to bridge the gap between what you anticipate to receive from your current pension arrangements, in retirement.

Topping up your NHS pension offers you a simple, tax efficient way to save for your retirement. Every payment you make is entitled to tax relief.

You simply make payments while you are working, then when you retire, any money held in your pension fund provides you with a taxable income for the rest of your life.

Remember that if you are unsure as to how much you should pay into a group AVC plan with Standard Life, you should speak to a financial adviser. There may be a cost associated with obtaining advice.

Further information is available from the bespoke website with Standard Life.

Link to Scottish Government Website