This International Women's Day, we’re helping to raise awareness and take action to minimize the gender pensions savings gap with a new webinar.
Gender imbalances in pay and taking time out of work for childcare can have an impact on your retirement goals. In fact, a 2022 NOW: Pensions report states that on average women need to work in full-time employment an extra 18 years to save the same amount of money into their pension as a working man.*
It’s time to invest in yourself – Join this webinar
Our partner, AVC Wise, has an upcoming webinar titled 'Closing the Gender Pension Gap’ to help you discover how you can get the retirement you deserve with the help of your exclusive Shared Cost Additional Voluntary Contribution (Shared Cost AVC) scheme.
Not only does it allow you to make immediate Income Tax and National Insurance contribution savings on your money as it goes into your pension pot – meaning a £100 contribution costs a basic rate taxpayer £70.10† – it’s also fully flexible. So, you can increase or decrease your payments whenever you want. The minimum contribution is £2, and the maximum contribution will depend on how much you are paid along with other factors that your Local Government employer will consider.
If you need any help accessing the webinar or the other resources, email support@avcwise.co.uk or call 01252 959 779.
Source: The Gender Pensions Gap Report 2022 (Now: Pensions, June 2022).
AVC Wise has no control or responsibility for the pages you are about to access, or to where any subsequent links may take you.
†Basic rate savings are displayed as a guide only. Basic rate assumes an individual paying 20% Income Tax and 10% National Insurance contribution.
A Pension is a long-term investment, the fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates, and tax legislation.
Shared Cost AVCs are available to activate LGPS members only.
You should consider your affordability before making or amending your Shared Cost AVC plan.
A Shared Cost AVC cannot be accessed until age 55, rising to 57 in 2008.
Please speak to an independent financial adviser if you require financial advice.