You can contribute up to 100% of your pensionable earnings via your workplace pension.
You are able to make additional savings via your pension if you would like to, and any amount of pension contributions above the legal employee minimum of 5% are called Additional Voluntary Contributions (AVC).
These are extra contributions you make on top of your standard contributions to build up more retirement savings. You’ll benefit from the same employee tax relief as your standard contributions.
You can contribute up to 100% of your salary towards your retirement savings and still get tax relief, as long as the total contribution from you and your employer is below the annual allowance. This allowance is currently £60,000 a year, but can be lower for high earners. (If you go over the annual allowance you’ll need to pay a tax charge. You may want to take independent financial advice if you think you’re in danger of going over the annual allowance.)
You can apply for AVC's via your NOW Pensions account directly. Once you have updated the value you'd like to contribute, we'll be notified within 48 hours and will apply this to your account ASAP to be included with your next available payslip.
Please note that Nasa Umbrella will not match your contribution levels. Employer contributions will remain at 3% even if you decide to increase your employee contributions.