Optional Contributions

You can make additional contributions in a tax efficient way by paying 'Optional Contributions' to your pension account.
Just like your normal contributions any Optional Contributions that you make attract income tax relief.

Under current legislation, you may take up to 25% of the current value of your retirement benefit including your Optional Contributions in the form of tax free cash. The tax free cash would therefore be higher in the event that you paid Optional Contributions.

You may pay up to 20% of your earnings in Plan Contributions and AVC's. The minimum amount to be paid is 5% which represents your basic portion. You can choose to pay an additional 1-10%, as 5% is already paid for you, by your employer.