TD2117- Shared Cost Additional Voluntary Contributions (Pension)

Concepts

• derby
• human resources
• local government pension scheme members
• shared cost avc
• td2117- shared cost additional voluntary contributions
• pension
• a shared cost avc salary sacrifice scheme
• the local government pension scheme
• shared cost avcs
• their lg pension contributions

Location

Derby

Description

Shared Cost AVC's are a salary sacrifice scheme offered to employees who are members of the Local Government Pension Scheme.

Total Quantity or Scope

To provide Local Government Pension scheme members the option to join a Shared Cost AVC salary sacrifice scheme to enable the employee to build an additional pot of money alongside their LG pension contributions that is exempt from Income Tax and National Insurance, with the potential to take it all as a tax-free lump sum on retirement.

Award Detail

Renewal Options

Initial contract term of 3 years plus an option to extend for 2 x 12 months, contract to commence 01/06/2024

CPV Codes

• 79414000 - Human resources management consultancy services

Indicators

• Options are available.

Legal Justification

AVC Wise is currently the only recognised provider of this service.

Other Information

Award of a contract without prior publication of a call for competition in OJEU as the procurement falls outside the scope of application of the directive. The Council will observe a 10 day standstill period.