Lump sum booster

[yellowbelly]

The AVC’s is there a limit of what you can pay in?

Depends if you want your AVC's to benefit from PSE (Pension Salary Exchange)....this is my understanding:

The new pension is still going to work with PSE so if you make a level of AVC contributions that would take your pre-tax
wage (left hand side of the wage slip) below the National LIving Wage/National Minimum Wage then I think your AVC
contributions (or part of) would be taken out of your post-tax wage (right hand side of the wage slip).

If you keep your AVC's at a level that ensure you stay under PSE then you pay (the equivalent of) £72 to get £100 of
contribution into your AVC account. If your level of AVC's take you out of PSE, then you'll be paying (the equivalent of)
£100 for the £100 into your AVC account due to losing the tax relief from PSE.

Any salary sacrifice items you've got from RM Bundle (health insurance etc) that appear on the left hand side of your wage slip will already
take your pre-tax pay down towards the NLW/NMW so you have to be a bit careful working out what your level will be to stay in PSE. HR won't advise you what your limit would be (as it's 'financial advice') so you have to do a bit of working out. In RMDCP To begin with I set a number of £ under but then had to adjust it down a few quid to bring it back under PSE. I eventually set it as a percentage to proportionally increase the amount I paid in AVC's if I did overtime.

Suggest you check out the AVC booklet:

https://rmcollectiveplan.com/documents-forms

[RobertT]

The AVC’s is there a limit of what you can pay in?

You can pay as much as you want into pensions(inc AVC's), but you only get tax relief on as much as you earn, up to a maximum of £60k.
That equates to a 20p saving for each £1 you pay into your pension.

You receive tax relief at source, which means that automatically gets taken off your income tax bill.
So a £30 per week pension payment only actually costs £24.

In practice if you're paying pension contributions via your wages, you can effectively only pay in around 85% because you've also got to pay your taxes. Any optional deductions you choose to make will reduce that further.

RM offer a salary sacrifice scheme known as PSE, which is effectively National Insurance relief. It provides an additional 8p in the £ reduction to your NIC's.
Meaning in total, each £1 pension contribution only costs you 72p, and a £30 weekly payment is only £21.60.

But to qualify for that extra benefit, your pay after pension contributions and any other tax efficient payments, can't fall below the national minimum wage.
If it does, you'll lose the benefit of PSE for that pay period and your payments will move over to the right hand column of your pay slip.
But you still benefit from the tax relief!

There are plenty of threads on here regarding how to work out your maximum payment to stay within PSE.

[yellowbelly]

^^^ A more expansive and far better explanation from RobertT

[Hyrrokkin]

^^^ A more expansive and far better explanation from RobertT

[ihatedogs]

The AVC’s is there a limit of what you can pay in?

You can salary sacrifice any amount you like but can't drop below the national living wage. Currently £11.44ph so £423.28 for a 37 hour week.