Celebrating 5 Years of AVC Wise
AVC Wise is marking a significant milestone - five years of providing support with an invaluable retirement benefit to employers and their staff within local government. It has been an incredible journey, and we are delighted to have had the opportunity to enhance the financial wellbeing of over 90,000 LGPS members in this time.
Over the past five years, AVC Wise has been dedicated to helping LGPS members enhance their financial wellbeing through salary sacrifice Shared Cost AVCs. We believe it’s important to empower employees to build a stronger financial future and we are immensely proud of the positive impact this scheme has had on these members' lives.
We have strived to provide employees with comprehensive knowledge about their pension schemes, annual statements, investment guidance and related benefits – the list goes on. By equipping them with the information they need, employees are in a better place to make informed decisions about their retirement.
Education really is the key to a secure financial future, and we’ve seen first-hand how enthusiastically it’s been received.
In addition to benefiting our members, we’ve helped employers achieve significant organisational savings through NI reductions with the scheme. Shared Cost AVCs have allowed employers to provide their staff with a unique, valuable retirement benefit all while reducing costs.
Following the popularity of Shared Cost AVCs in local government, we recently launched a new offering - salary sacrifice AVCs for the NHS. So, we’re now working in partnership with NHS trusts to give their workforces access to this valuable retirement benefit alongside essential pension education, helping even more staff work towards their dream retirement.
Let's take a moment to acknowledge some remarkable numbers that represent our journey so far:
🤝 253 partners.
👥 61 AVC Wise team members.
📈 90,000 registered users.
💼 24,579 accepted plans.
👩 💻 42,000 webinar attendees.
⏰ 1,478 hours of webinars delivered.
🤝 2,676 hours of Individual Meetings held.
💰 £22.58 million saved by our partners.
"From day one our mission has always been to empower employees to take control of their financial futures. We are so proud of the impact Shared Cost AVCs have had on so many LGPS members, being able to learn invaluable knowledge about their pension and have the tools to grow their retirement income.
In addition, the extra savings we have been able to help our partners achieve have been crucial given the current financial climate and funding issues - it’s really alleviated some of the pressure these past 5 years. We can’t wait to see what the next 5 bring!".
- George Bucci, Head of Marketing, AVC Wise
Here's to another five years of empowering employees, securing happier retirements, and saving people money!