My Money Matters

Our LGPS AVC proposition offers you and your members the advantage of our extensive pension expertise, while also providing the opportunity to streamline payroll administration. By forming a partnership with My Money Matters, you can enhance member engagement and deliver a more integrated, effective pension solution.

My Money Matters was founded in 2018, to support public sector employers in offering their Local Government Pension Scheme members access to the cost-effective retirement benefits of a salary sacrifice Shared Cost Additional Voluntary Contribution scheme; better known as a Shared Cost AVC scheme.

Working with over 300 local government employers, My Money Matters provides a fully managed solution to help empower employees with tailored financial education, and tools and services to enact a change on their financial wellbeing.

The service provides employers with support to launch and manage their AVC schemes, which includes a dedicated bespoke web platform and full administration support from beginning to end.

The service and support offered by My Money Matters is highly rated by employers and members. In addition, the partnership offers:

• Reduced administration burden: all administration is coordinated by My Money Matters, including new joiners, changes to contribution payments and salary deductions
• Contribution management: the My Money Matters platform captures all member requests to start, stop or change AVC contributions, and package these to each payroll to be actioned based on agreed frequency and timing
• Investment advice: My Money Matters have partnered with Westminster Wealth Management to offer LGPS members regulated financial advice on their Shared Cost AVC investments at no cost to them. You choose whether to offer Shared Cost AVCs. Where included, this option is provided and explained to members in their My Money Matters account
• Financial coaching: My Money Matters offers engagement sessions including webinars, 1:1 coaching and support; and webchat. These complement the engagement communications provided by L&G, such as investment guides and benefit statements, online scheme management and the L&G App
• Single sign-on: Members can seamlessly access their L&G AVC plan directly from their My Money Matters account without the need to sign in separately 

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The value of an investment and any income taken from it is not guaranteed and can go down as well as up, and the investor may get back less than the original amount invested. 

Once L&G has received and accepted the transfer value payments they cannot be returned. 

The value of the benefits payable on the member’s death may be lower than those that would have been paid under their scheme. 

The value of the units which make up a member’s fund can go down as well as up, so the value of their fund is not guaranteed. It is particularly important for a member to remember this if they are close to taking their benefits. 

The fund or funds the members are invested in will have specific risks. These risks are described on the fund factsheets which you can view at legalandgeneral.com/investwbop 

The law and tax rates may change in the future.