Additional Voluntary Contributions

When you retire, the value of your retirement account will affect the amount of pension you receive. Paying higher contributions and/or making extra contributions is a way to enhance your retirement benefits.

You may make payments above 6% of your Pensionable Pay. These are called Additional Voluntary Contributions (AVCs). They are treated in the same way as your regular contributions, except that AkzoNobel does not match them.

You may find paying AVCs useful if you would like to increase your retirement benefits in a cost effective way, or you began saving for retirement later in your career so don’t have a long time to build up your savings.

If you would like to set up AVCs, please call the myChoice helpline on 01707 607517. You can change your AVCs at http://mychoice.towerswatson.com.

Help deciding how much to save

You will find tools to help you decide how much you need to contribute to achieve your retirement goals on the website http://mychoice.towerswatson.com.

You should review how much you pay over time to make sure you’re on track to achieve your goals.