additional voluntary contributions


additional voluntary contributions
/əˌdɪʃ(ə)n(ə)l ˌvɒlənt(ə)ri kɒntrɪ'bju:ʃ(ə)nz/ plural noun
extra payments made voluntarily by an employee to a pension scheme (on top of the normal contributions, up to a maximum of 15% of gross earnings).
Abbreviation AVCs

Dictionary of banking and finance. 2015.

Look at other dictionaries:

  • additional voluntary contributions — ( AVCs) AVCs are a top up payments made by people into their pension schemes to boost their eventual retirement income. There are two types of AVC. Financial Services Glossary Additional voluntary contributions ( AVCs). This type of top up policy …   Financial and business terms

  • Free-standing Additional Voluntary Contributions — ( FSAVCs) See additional voluntary contributions. Financial Services Glossary …   Financial and business terms

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  • Additional Voluntary Contribution – AVC — An extra allocation of funds to a retirement savings account that is above the amount that an employer will provide a matching contribution for. Additional voluntary contributions are made at the discretion of the employee and go to an employer… …   Investment dictionary

  • additional voluntary contribution — AVC Additional pension scheme contributions that employees can make, at their discretion, in order to increase the benefits available from their pension fund on retirement. Additional voluntary contributions can be paid into an employers scheme… …   Accounting dictionary

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  • AVCs — ( additional voluntary contributions) AVCs are a top up payments made by people into their pension schemes to boost their eventual retirement income. There are two types of AVC. Additional voluntary contributions (AVCs). This type of top up… …   Financial and business terms

  • AVC — ( additional voluntary contributions) AVCs are a top up payments made by people into their pension schemes to boost their eventual retirement income. There are two types of AVC. Financial Services Glossary Additional voluntary contributions (… …   Financial and business terms

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