Reporter: Stuart Littleford
Additional Voluntary Contribution (AVC) service provider, AVC Wise Ltd. (AVC Wise), has been awarded a place on the UK’s first and only Salary Sacrifice AVC Framework, and as the only approved supplier on the framework.
Portsmouth City Council has launched the new framework meaning other public sector organisations can seamlessly enter into a contract with a salary sacrifice AVC provider, without the need for a lengthy procurement process.
Councils can make savings and support staff’s financial wellbeing through salary sacrifice additional pension contributions more easily than ever.
This means that these organisations can provide further education and support around retirement planning and financial wellbeing to their workforce easier than ever before.
Shaun Tetley, Head of Pensions, Payroll and Reward at Portsmouth City Council told GPSJ: “We have been leading the way with additional voluntary contributions for some time, we firmly believe it’s a great move for staff and employers and we’re delighted to launch this framework that can help so many others benefit from it.
Numerous councils have said they’ve had difficulties procuring a supplier, and now they don’t need to worry about that as they can benefit from the work we’ve already done.
AVC Wise is the market leader for salary sacrifice AVCs and provides a fantastic service. Our framework will speed up staff getting benefits and employers saving money, which can only be good for the public sector”
“This framework is a game changer for public sector organisations.” explains Bobby Lyons, Head of Commercial and Strategy at AVC Wise. “It cuts out the lengthy tender process as all you need to do is identify your requirements, present these to us at AVC Wise, award a contract, and you’re on your way to offering your public sector employees the best retirement benefits possible. We’re constantly striving to make access to salary sacrifice AVCs as easy as possible for employees, and this is a huge step in the right direction in our mission to support the public sector and the financial wellbeing of their employees.”
Suppliers under this agreement are pre-qualified, which means that AVC Wise have met the appropriate mandatory and discretionary criteria as set out in the framework. For more information, please email info@avcwise.co.uk.
For more information, including how to buy, and to check the approved customer list, visit www.Portsmouth.gov.uk/frameworkavc.
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