LGPS new job - what happens with my AVC?

collins74

I have been very fortunate to get a promotion with a small increase in my salary that will boost my LGPS pension a little.  I start my new job in a few months.

I have been paying into an AVC alongside my LGPS for several years and my new employer is part of the same LGPS Pension Fund that my current one is.

I have spoken to my LGPS Pension Fund about my AVC but their advice seemed a little unclear hence my question (it may be me not understanding what they say rather than dodgy advice).

The service with my new employer will simply join up with my existing membership, that is my preference and the default I believe.  I would like to carry on with the existing AVC plan if possible.

 Will I be able to do this or do I have to start a new AVC? I expect there will be at least one month when I don’t make contributions due to these changes, so I didn’t know if this will put the AVC on hold until retirement and thus mean I have to start a new one?

Hope this makes sense.

Thank you.

Brie

As I understand it an AVC is simply a policy tacked on to your main LGPS so you can start and stop payments as you wish.  I know where I was working a couple of years back (not LGPS) there was the option to drop any annual bonus into the pension scheme so it could end up being just random amounts.  

All that said I would double check when you start the new role to see if they a new instruction from you and how they will handle it.  

And congrats!!