Understanding NILGOSC - NI

[@JeffAicken]

Useful video! Despite being in NILGOSC with an LGPS pension, my employer was unaware if they could support Shared Costs AVCs, but confirmed they did support 'standard' AVCs. I am currently paying into a 'standard' AVC but I am not getting ANY tax relief on my contributions to it. If I am contributing to a non-shared cost AVC, do I have to go through a process of claiming back the tax relief myself? Thanks.

[@mymoneymattersuk]

Hi Jeff, Standard AVCs are taken as gross deductions from pay before income tax. If you are a tax payer you will automatically get tax relief at source through your payslip. There is no need to claim the tax relief back yourself. Thanks

[@JeffAicken]

@@mymoneymattersuk Thank you so much for responding, I messaged the Pru at the end of last week and they also confirmed that the tax relief should've been automatic, and done through payroll. Will hopefully get this sorted soon: if I'm given the option, I'll top up the 'missing' amount back into the AVC. Just a pity that they don't also do the additional NI saving too that many others apparently enjoy!

[@MENSA.lady2]

Here in the UK you can retire at time you choose. The only problem is financing your retirement. I planned carefully and retired at 54. You can do it to.