Decision details

To enter into a contract with AVCWise

Decision Maker: Chief Executive

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To enter into a contract with AVCWise, which provides TDC with a platform, enabling permanent employees of the Council, who are members of the LGPS to transfer/open an AVC (with either Standard Life, or the Pru) under a salary sacrifice arrangement.

Decision:

This will mean that anyone who joins the scheme will not be subject to the deduction of National Insurance on the salary sacrificed amount, as well as tax relief on the whole amount (the employee amount is £1 per month, in addition to the salary sacrifice amount).

Alternative options considered:

N/A

Publication date: 14/01/2022

Date of decision: 14/01/2022

Accompanying Documents: