What is AVC Extra?

AVC Extra is the main AVC arrangement for the 2007 and CARE Sections of the Fund.

You may also ​want to think about joining AVC Extra if you are a member of the 1970 Section and already pay maximum BRASS contributions. 

How does it work?

You choose how much you want to pay in extra contributions, subject to set limits. Your employer will deduct these through your pay before you are taxed.

Your benefits with AVC Extra are treated differently to your main ​Fund benefits. When you retire, up to 25% of your AVC Extra account can be taken as a lump sum (currently ​tax-free). The remaining value can be used to buy an annuity on the open market or to provide an additional lump sum which is subject to tax. You may also be able to transfer to another provider if you want to use flexible drawdown of your benefits.

1970 Section members only: If you have a protected pension age and want to take or transfer your main ​Fund benefits before age 55, you must take, or transfer, your AVC Extra account at the same time.

If you are over 55, you can take or transfer your main Fund benefits and leave your AVC Extra account where it is until you decide how and when you would like to receive these benefits. 

Find out more in our Guide to AVC Extra.

How do I join and manage my AVC Extra account?

If you want to join AVC Extra, or you’ve already done so and want to change your investment choices (including making a one-off payment) or amend contributions, please log into your account
If you have any queries, please phone our Helpline on 0800 012 1117 or email csu@railpen.com 

Where can I get advice about investments?

Your employer, RPMI, and the Trustee are unable to provide financial advice. It is strongly recommended that you speak to an independent financial adviser (IFA), regulated by the Financial Conduct Authority before making any decisions. You can find IFAs in your local area on the Unbiased website.