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 ?

Essex county council (ecc) is exploring the option of offering a shared cost additional voluntary contributions (avc) benefit scheme to employees.

0782 Avcs Salary Sacrifice - Early Market Engagement

If I make additional voluntary contributions, I would get PS158.

DEAR TRICIA; YOUR MONEY 5 pages of SOUND advice; Need some practical financial advicePS YOUR MONEY Editor Tricia Phillips and her team can help

Alternatively, you could achieve the same result by paying additional voluntary contributions (AVCs) into your occupational scheme.

Shelter child benefit from tax authorities

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."

New savings plan for UAE expatriates proposed

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.

Don't be caught out by changes to pension rules

The study also showed 97 percent make mandatory contributions, while 64 percent make additional voluntary contributions. Manulife Philippines chief investment officer Aira Gaspar urged Filipinos to make regular contributions to a diverse portfolio of investments.

Filipinos saving for retirement too late-Manulife

The four bookmakers will underwrite a combined contribution payable through the statutory Levy of not less than PS47.5m per year, as well as the additional voluntary contributions. With the announcement of the 53rd Levy Scheme also arriving, total income to the Levy Board from bookmakers in 2014-15 is estimated to reach PS80.2m, including Betfair's PS7.8m contribution.

Sport set for a boost with new Levy deal

A provisional budget of $23.9 million was agreed for 2011, with a core budget of $13.3 million funded by voluntary contributors and the remainder made up by additional voluntary contributions from the UAE, Germany and Austria.

Solar seen key to Gulf's renewables effort

I also paid Additional Voluntary Contributions into an Abbey National pension plan.

Family Finance

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.

It pays to check up on your pension

These extra payments are known as Additional Voluntary Contributions (AVCs).

Your Money: Q & A; YOUR QUESTIONS ANSWERED

Ask if your employer provides In-house Additional Voluntary Contributions (AVCs).

Cash Box: Our endowment policy will have a pounds 17,000 shortfall; Lesley Collins, head of Independent Women Financial Advisers in Edinburgh and Glasgow, answers your queries