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 ?
North east lincolnshire council is exploring the option of offering a shared cost additional voluntary contributions (avc) benefit scheme to employees.
One of the first considerations is to make the most of the very generous tax relief on pension contributions either to a Personal Pension or as Additional Voluntary Contributions into a company scheme.
If you haven't been in the scheme all your working life you should top up your pension by making Additional Voluntary Contributions - AVCs for short - either into your firm's scheme or to another pensions provider.
The Tenderer Must Also Be Experienced In The Management Of Staff Benefit Schemes Including Additional Voluntary Contributions (Avcs) And Last Minute Avcs, Income Protection, Life Cover, Critical Illness, Etc.
Second, you can pay additional voluntary contributions via your salary.
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.
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.
Top up your pension pot - pounds 739m could be spared by optimising contributions to personal or company pension schemes, or making Additional Voluntary Contributions.
"He helped us with additional voluntary contributions and things like that, and reassured us about our pension concerns and investments.
Q I'M due to retire in September 2010 but would like to work a little longer while drawing benefits from my company occupational pension scheme and my additional voluntary contributions (AVCs).
n Look to top up your pension pot: another pounds 613 million could be saved by optimising contributions to personal or company pension schemes, or by making Additional Voluntary Contributions.
He had a lump sum from the additional voluntary contributions he paid into his pension, and a redundancy package.