UKAEA Pensions

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Additional contributions

You must pay both the normal and further contributions but you may choose to pay additional contributions to increase your retirement income above the normal amount provided by the United Kingdom Atomic Energy Authority pension scheme.

You can contribute up to 15% of your pensionable pay to the United Kingdom Atomic Energy Authority pension scheme or you can contribute up to 100% of your gross annual income to the Additional Voluntary Contribution (AVC) arrangement with the Prudential (but you will still be required to pay both the basic and further contributions to the scheme (unless you have reached the maximum service limit).  Subject to limits set by the HMRC tax relief will be given on your contributions paid from your gross taxable earnings in a year.

If choosing to pay extra to the CPS your additional contributions can be used to secure added years of service in the UK Atomic Energy Authority pension scheme.

Additional contributions to either the CPS, AVC or (if appropriate) the Shift Pay Pensions Plan arrangements qualify for tax relief (subject to limits set by HMRC) in the same way as the basic and further contributions to the scheme. 

The main features of Added Years and the AVC Scheme are as follows:-