You can make your own arrangements to pay contributions to a stakeholder pension scheme or a personal pension scheme at the same time as being a member of the Local Government Pension Scheme (LGPS). Any contributions you pay will receive tax relief up to 100% of your earnings. These arrangements are similar to those offered under an AVC or FSAVC plan as you have your own account that builds up over time. These schemes are often known as money purchase schemes and therefore the benefits you receive at retirement are determined by how much you have contributed to the scheme, how well it has been invested over the years and what the market conditions are at the time you retire. There are, of course other ways to save for your retirement other than by paying more pension contributions e.g. National Savings, ISAs, Venture Capital Trusts etc.

Please note that no one employed by The Royal County of Berkshire Pension Fund can give you financial advice and you should always seek your own independent financial advice before making a final decision.