free-standing additional voluntary contribution


free-standing additional voluntary contribution
/fri: ˌstændɪŋ əˌdɪʃ(ə)nəl ˌvɒlənt(ə)ri ˌkɒntrɪ'bju:ʃ(ə)n/ noun
a payment made by an individual into an independent pension fund to supplement an occupational pension scheme (the anticipated benefits from the two schemes together must be less than the maximum permitted under the rules laid down by the Inland Revenue).
Abbreviation FSAVC

Dictionary of banking and finance. 2015.

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