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 ?
The study suggests specialized fund managing institutions would run the proposed fund, which will employees' monthly deductions and the additional voluntary contributions, "to invest it in an optimal way that ensures good financial returns for the employees.
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.
His tax-free lump sum due of around PS160,000 is in addition to this, while the saver has also been paying additional voluntary contributions now worth PS100,000.
I have now joined the local government scheme and would like to know if it's worth participating in Additional Voluntary Contributions.
The study also showed 97 percent make mandatory contributions, while 64 percent make 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.
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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