Scottish Widows to provide AVC scheme

Scottish Widows will provide an Additional Voluntary Contribution Scheme to the £760 million Worcestershire County Council Pension Fund. Scottish Widows will now administer the Fund's AVC scheme together with Equitable Life, who was previously the sole provider. The fund has around 15,000 members who work for approximately 50 participating employers. Under the Local Government Pension Scheme Regulations 1997, active scheme members can elect to pay AVCs and the fund must make arrangements for those benefits to be provided under a pensions policy. Members may also increase their deat...