Your BRASS AVCs are a tax-efficient way of saving more towards your main Fund pension benefits.
You can pay as little as £2 a week or £10 a month (if paid monthly). Please ask your employer about the maximum you can pay.
The most you can contribute to BRASS each tax year is the higher of either:
You can also top up your regular payments to the maximum allowed with a single amount at any time. Use the BRASS Payroll Deduction Form to help you work out your limit.
If you go over the maximum and still want to pay more, you can apply to join AVC Extra.
Your circumstances - and your life plans - can change, so it's a good idea to check your fund choices regularly to make
sure you're saving towards the retirement you want.
If you're invested in a Lifestyle fund, it's important to tell RPMI when you plan to take your benefits. This is your Target Retirement Age, which will ensure that your investments are automatically switched into lower risk funds at the right time.
Check or change your investment funds at any time in myFund - it's easy!
If you're invested in a Lifestyle Strategy, you should think about choosing a Target Retirement Age (TRA). This could be earlier or later than your section's Normal Retirement Age (which is usually between 60 and 65).
Your TRA triggers an automatic process ten years before you retire to make sure your funds are put into lower risk investments. Your minimum TRA is 50 or 55, depending on when you joined the Scheme.
Your maximum TRA is 75. If you don't choose a TRA, you will be defaulted to your Normal Retirement Age.
Please check and let RPMI know your TRA, or you may be invested in funds that don't suit your needs. You should also review your TRA regularly in case your plans change.
If you're not sure about your retirement plans or investment choices, talk to an independent financial adviser. Find a list of local regulated advisers on the Unbiased website.
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