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16th November 2022

Prudential Additional Voluntary Contributions (AVCs) 2021/22 Update

Prudential Additional Voluntary Contributions (AVCs) 2021/22 Update

Tayside Pension Fund were notified by AVC provider Prudential that financial information pertaining to overall membership had been delayed and would not available for audited annual accounts in September 2022. Subsequently, delayed information is now available and can be found below.

As AVCs are invested separately from the investments of the scheme itself and secure extra benefits on a money purchase basis for members that have elected to contribute, it has been decided in accordance with The Pensions Scheme (Management and Investment of Funds) Regulations 1998 not to include the relevant figures in the financial statements of Tayside Pension Fund but to disclose this information as a note to the accounts.

Contributions received during 2021/22 financial year was £2.687m (2020/21 £1.880m)

Value of funds invested as at 31st March 2022 was £9.507m. (2021 £7.711m)

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