Pru scoops six out of 10 local authority AVC schemes

Prudential UK has won eight new AVC scheme wins the last 12 months, bringing the total number it administers to 59.

Of the 99 Local Government Administering Authorities in the country Prudential now administers 60 per cent. It is also the sole AVC provider to Teachers Pensions.

Richard Harrison, director for public sector pensions at Prudential says: “Prudential believes that AVC facilities are an integral part of the ‘new look’ pension schemes in England & Wales. With AVC contributions increasing, we are seeing improved understanding among employees of how they can save for their retirement and the real benefits of additional pension savings through the workplace.”