Salary Sacrifice Additional Voluntary Contributions (AVCs) Scheme

Description

A contract has been awarded for the continued provision of a Salary Sacrifice Additional Voluntary Contributions (AVCs) Scheme for Warwickshire Police staff and PCSOs. The Authority is required to provide active members of the Local Government Pension Scheme a facility to access AVCs. This is an existing staff benefit and has been awarded to the incumbent provider. This is a below threshold direct award via Portsmouth City Council's Salary Sacrifice Additional Voluntary Contributions Framework (Find a Tender Notice reference: 2023/S 000-015625) and as such is compliant with PCRs2015. The contract is for a term of 3 years with no options to extend. The approximate value is £16,500 plus VAT, as applicable on consultancy and admin services, per annum but with increasing staff uptake. Therefore a total contract value range has been provided based on a reasonable uplift of annual take up, the annual value has been increased by 10% per annum for the term of the contract.