To consider a report of the Director of Corporate Resources regarding the Additional Voluntary Contribution Scheme.
The Committee considered a report of the Director of Corporate Resources regarding the Additional Voluntary Contribution Scheme.
The report was introduced and welcomed by Members. Caution around promoting the scheme was emphasised as it should be an individual’s decision.
The recommendations in the report were considered and it was RESOLVED:
That EHCC Committee:
i. Approve the proposal outlined in this report to set up and implement a SCAVC scheme with the AVC provider Prudential for LGPS members.
ii. Agree that amendments are to be made to the statement of particulars for any employee who joins the SCAVC plan. These amendments will state that the AVC contributions are considered to be a pensionable emolument and therefore will not affect LGPS pensionable pay.