Maximising Additional Voluntary Contributions (AVCs) for 2021-22

With the tax year end fast approaching many members look to maximise their AVCs under the TfL Pension Fund.

The maximum you can pay in AVCs to the Fund is 15 per cent of gross earnings less your standard Pension Fund contributions.

If you are considering maximising your AVCs before the tax year end you need to make sure you allow enough time for your request to be processed. The pensions team will need to check that the amount you are planning to pay does not take your total contributions above the maximum limit and the payroll team will then need to update the payroll system to amend your AVC deduction.

In addition, you'll need to consider the impact to your overall pension benefits as well as the impact on your pension input and Annual Allowance for the tax year.

For more information please refer to your annual benefit statement and the guide to additional voluntary contributions. The final dates by which we must receive any requests to meet the payroll cut off dates are as follows.

Payroll group	Cut-off date
Payroll group 10	Wednesday 9 March 2022
Payroll group 11	Wednesday 9 March 2022
Payroll group 15	Wednesday 9 March 2022
Payroll group 20	Wednesday 23 February 2022
Payroll group 25	Wednesday 23 February 2022
Payroll group 42	Tuesday 8 March 2022
Payroll group 61	Friday 25 March 2022

If you are not sure which payroll group you are paid under, please check your latest payslip.

For further information, contact the Fund Office on 020 7126 400 (auto 64000).