Additional Voluntary Contribution

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Additional Voluntary Contribution

Also called an AVC. In the United Kingdom, a contribution to a pension over and above what one is required to contribute. For example, one may have a pension structured such that one makes a 100-pound contribution each month automatically. If one makes a supplementary 50-pound contribution, this is called an AVC. This may increase the benefits the pension pays after retirement. Employers sometimes match additional voluntary contributions.

Additional Voluntary Contribution (AVC)

an additional payment to a PENSION scheme, to supplement contributions to an occupational pension scheme.
References in periodicals archive ?
But Inland Revenue figures show the average personal contribution to personal pensions and additional voluntary contributions (AVC's) for this age group is a paltry pounds 693 per year, including basic rate tax relief.
Pension scheme members are also worried the final salary and additional voluntary contributions schemes will be closed and benefits for those retiring early will be reduced.
TWENTY years ago,I contributed to a pension scheme at work, and to the separate top-up Additional Voluntary Contributions scheme.
I have now joined the local government scheme and would like to know if it's worth participating in Additional Voluntary Contributions.
5m per year, as well as the additional voluntary contributions.
Increasing your savings through additional voluntary contributions (AVCs) or Personal Pension Plans is a highly tax-efficient way of boosting retirement provision and it is worth seeking advice on maximising this opportunity to meet your goals.
3 million funded by voluntary contributors and the remainder made up by additional voluntary contributions from the UAE, Germany and Austria.
Additional voluntary contributions are expected from mainly three sources such as the UAE's bid implementation agreement, from Germany for the operation of the Irena Innovation and Technology Centre (IITC) in Bonn, and from Austria for the operation of the Irena Liaison Office (ILOV) in Vienna, the official said.
I also paid Additional Voluntary Contributions into an Abbey National pension plan.
BBC, found that the fall occurred across a range of plans, including private pension and company direct contribution schemes, as well as additional voluntary contributions made to final salary pots.
These extra payments are known as Additional Voluntary Contributions (AVCs).
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