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Additional Pension Contributions

Purchase of additional pension contributions (APCs)

You can elect to buy extra annual pension, up to a maximum of £8,344, using an Additional Pension Contribution (APC) contract. 

APCs are deducted from your pay and are the same amount each month. However, contribution rates may be subject to change by the Government Actuary. Any revision to contribution rates would apply to all APCs contracts.

You decide how long you wish to pay the contributions for, you can elect to stop paying APCs at any time. However if you stop the contributions before the contract has ended, the amount you will receive will be based solely on the amount you have paid in, not the amount specified in the contract.

If you die before taking your APC benefit, no benefits are payable to your dependants in respect of the additional pension bought by you.

Restrictions on buying APCs

  • You must elect to pay contributions over a whole number of years
  • You can elect to buy extra pension at any time, up to 75, but if you are a year or less to your normal pension age (or over your normal pension age but under age 75) you may only pay by means of lump sum
  • Extra contributions will cease once you reach your normal pension age 
  • You will not be permitted to purchase APCs, until you have obtained a medical certificate from your GP (you must meet any costs in obtaining a medical certificate). Please contact the Cornwall Pension Fund to obtain the relevant medical certificate form for your GP to complete.
  • You can buy extra pension only for yourself as there are no attaching spouse's, partner's or children's pensions.

For more information and to request figures relating to APCs please contact the Cornwall Pension Fund.

APC calculator

You can use this online APC calculator for an idea of how much it would cost to buy extra or lost pension.

Additional voluntary contributions (AVCs)

You can elect to pay additional voluntary contributions into an AVC provider, in order to build up a separate pension fund. This additional fund will be linked to your Cornwall Pension Fund.   

AVCs are a tax efficient way of building up a separate pension arrangement.  At retirement, these benefits will be used to provide a monthly pension and a lump sum of up to 25% of the fund value. Our nominated AVC provider is Standard Life - for general information about the Group AVC Plan or Standard life please visit the Standard Life LGPS AVC page.

Please view in house AVCs for more detailed information.

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