Am I eligible to buy added pension?
You can buy added pension if you’re an active member of alpha. You cannot buy added pension if you’re in the partnership scheme, or you’ve left the scheme.
Is there a limit to the amount of added pension I can buy?
There is an overall limit to the amount of added pension you can buy. The limit is reviewed each year and is adjusted in line with rises in the cost of living. Please see the Limits and deadlines page for more information.
How much does added pension cost to buy?
The Added Pension Calculators below will help you work out how much added pension you want to buy and how much it will cost you.
Will I get tax relief on my added pension contributions?
You’ll receive tax relief on contributions that do not exceed the limits set by HM Revenue and Customs. If the deduction comes directly from your salary then your tax relief is automatic. If you make a lump sum contribution by BACS or personal cheque, no tax relief is applied. You’ll have to claim the tax relief from HMRC directly.
Will my annual allowance be affected by buying added pension?
Buying added pension, particularly by lump sum, will increase the value of your pension from one year to the next, and you could potentially become liable to an Annual Allowance tax charge. You can find more information on the Government's Tax on your private pension contributions page.
Can I buy added pension for my dependants?
In the classic, classic plus or premium schemes, added pension will provide benefits for your dependants automatically. In nuvos or alpha, you’re able to select if you want to purchase added pension for yourself only or for yourself and your dependants.
From 1 April 2022, you can no longer apply to make new added pension purchases in the classic, classic plus, premium or nuvos schemes.
How will I know how much added pension I have bought?
Your Annual Benefit Statement (ABS) will show you how much added pension you’ve bought each year and the current value of added pension bought in previous years.
What is the advantage to buying added pension as opposed to just saving the same amount?
If you buy added pension, you’ll receive tax relief on those contributions (as long as they do not exceed the limits set by HMRC).
Any added pension you buy is also adjusted annually in line with the Consumer Price Index (inflation).
Can I buy added pension by lump sum in my previous scheme now in this tax year and in the next tax year?
You can only make a new added pension application in the alpha scheme. If you are currently contributing to your previous scheme, this can continue at the same rate until its intended end date or until you cancel.
Can you purchase added years in alpha?
You can’t purchase added years in alpha as alpha isn’t based on years of reckonable service. However, you can buy added pension, which is an additional amount of alpha pension which will be paid to you each year in retirement. Find out more about added pension.
How can I pay more into my pension?
There are different ways to increase your pension in alpha – you can buy added pension or make additional voluntary contributions (AVCs) to the Civil Service Additional Voluntary Contribution Scheme.
I am in alpha and I don’t think my projected retirement income will be sufficient. How can I accrue more pension?
Remember, you may also be entitled to receive State Pension benefits. You can obtain a forecast of your state pension from The Pension Service.
There are different ways to increase your pension in alpha – you can buy added pension or make additional voluntary contributions (AVCs) to the Civil Service Additional Voluntary Contribution Scheme.
Will my employer match my added pension contributions?
Your employer will not pay anything towards your added pension.
How do I cancel my monthly added pension contributions?
Please submit your request via Contact Us or in writing.
We will instruct your employer to stop deducting your monthly contributions from your pay.
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