The salary sacrifice additional voluntary contributions framework enables UK local government and wider public sector customers to seamlessly enter into a contract with AVC Wise Ltd to provide a salary sacrifice Additional Voluntary Contributions (SSAVC) service (including Shared Cost Additional Voluntary Contributions) and other associated products and services.
On this page you will find information about the council’s salary sacrifice additional voluntary contributions framework (SSAVC). There’s information for other local government bodies on how they can benefit from the SSAVC.
SSAVCs are currently available to employers with Local Government Pension Scheme (LGPS) and NHS pension scheme members (this may be expanded to include other public sector organisations at a later date), and it is an employer’s decision whether they implement a scheme.
The key advantages of a SSAVC scheme are that members can achieve significant savings whilst growing their retirement pot, helping toward a more secure financial future. The scheme also enables the organisations themselves to make Employer National Insurance and Apprenticeship Levy savings too.
Portsmouth City Council has awarded a single supplier Framework agreement in accordance with the requirements of regulation 33(7) of the Public Contracts Regulations 2015, for the provision of a Salary Sacrifice Additional Voluntary Contribution (AVC) scheme.
A full list of authorities able to access the agreement can be found in the document set.
- Save your organisation time: we have already undertaken a procurement compliant with procurement regulations. All you need to do is identify your requirements, present these to the service provider and award a contract.
- Assured supplier standards: suppliers on this agreement are pre-qualified which means they meet the appropriate mandatory and discretionary criteria as set out in the standard supplier selection questionnaire. Financial stability, track record, experience and technical & professional ability have all been assessed.
- Save on resource needs: quality and price have already been assessed with pre-agreed terms & conditions to support all orders.
The SSAVC service includes, but is not limited to, the following:
- Bespoke online portal for application management and approvals
- Employee engagement and communication with materials provided to help you educate the workforce
- Interactive employee-facing webinars hosted by experts promoting all aspects of financial wellbeing
- Individual sessions for employees to engage on a one-to-one level with experts
- Your own dedicated partner account manager to ensure scheme success continues beyond initial launch
- Integrated payroll reporting
- Automated application and amendment processing
- Seamless processes with investment providers
- Onsite employee presentations
- Provision of a web chat service and telephone helplines to support employees
- Calculators to provide employees with retirement impacts and scenarios
- Full compliance with HMRC guidelines and employment law
- Automated production of online electronic contractual salary sacrifice variation for applications and amendments
- Information security and audit trails.
- Standard additional voluntary contributions service
- AVC Investment Advice service
The following optional services are also be made available to participating authorities
- Additional financial services
As this is a single supplier framework you can simply award a call-off contract from this agreement without re-opening competition:
This can be done in 4 simple steps:
- Review all guidance documents
- Ensure that the scope of this agreement provides a solution for your needs
- Sign the Access Agreement (upon completion relevant documentation will be sent to you in commercial confidence for the purposes of your procurement)
- Consult with the service provider in writing, requesting it to supplement its tender as necessary. You can contact AVC Wise.
It is also recommended that you consider your own internal commercial and legal advice and keep any documents to support your rationale during the procurement process.