Members of the Local Government Pension Scheme (LGPS) have the option to enhance their benefits through Additional Voluntary Contributions (AVCs) with our in-house provider, Standard Life. As an employer, you will need to ensure that the member is properly set up and that their contributions are forwarded to Standard Life.
If this is the first time a member in your organisation is opting for an AVC, we will notify Standard Life and confirm some necessary details with you, such as bank information. This process can take some time to process.
Should a member inform us of their intention to start an AVC, we will contact you to initiate the sign-up process. Conversely, if you are notified first, please contact employerdata@cornwall.gov.uk to begin the sign-up procedure.
Reminder: AVC contributions will need to be paid over monthly to Standard Life, not to the Cornwall Pension Fund. However, please keep the AVC information on your i-Connect submission. If you have any questions, please contact our Employer Data team.
Signing into Standard Life AVC portal
When you log in for the first time, please confirm that your details are correct. If everything looks fine, your next step is to add the member who is taking out the AVC. To do this, select ‘Join Members’ and then ‘Individual Join’. Fill in the member's details, noting that the retirement age for members is their state pension age.
As the Cornwall Pension Fund is the administrator of the scheme, the contact details will always be Cornwall Council, County Hall, Truro, TR1 3AY.
Complete the member's salary details, ensuring that the date of the first payment is the first of the month in which the deduction is made.
Members can choose where they wish to invest their money, as detailed in their AVC application form.
The Standard Life Investment Funds correspond as follows to the descriptions:
| AVC Application Form | Standard Life |
|---|---|
| Cash Fund | Standard Life Money Market Pension Fund: GS |
|
Ethical |
Standard Life Ethical Pension Fund: G7 |
|
Deposit and Treasury |
Standard Life Deposit and Treasury Pension Fund : G4 |
|
Investment Strategy |
Lifestyle Profile |
|
Managed |
Standard Life Managed Pension Fund: FA |
|
With Profits |
Pension With Profits One 2006 Fund: WJ |
Setting up your contribution schedule
You need to ensure that member contributions are handed over to Standard Life promptly. Once signed into the Standard Life AVC portal, navigate to the ‘Home’ tab and click on ‘Make Payments’. This section now offers several options:
- View payments
- Create a new payments
- Copy your last payment
- Make a general enquiry
For your first schedule submission, click ‘Create a new payment’ and ensure all members taking out an AVC are included with correct contribution amounts. Common issues might include:
- Member not on Standard Life records
- NI number not on schedule
A drop-down list is available to assist with these queries. After the first month’s schedule, if you only need to make a few changes before submitting, use the ‘Copy your last payment’ button can save you time.
For questions about the schedule and the AVC Portal, please contact Standard Life by selecting ‘Make a general enquiry’ under the ‘home’ tab. If you need additional help, contact the Employer Data team at employerdata@cornwall.gov.uk.