What
is an AVC Pension (Additional Voluntary Contribution) |
An
"Additional Voluntary Contribution" to a company pension
scheme made by an employee to improve pension at retirement,
usually by building up an additional pot of money but
sometimes in order to purchase additional years of service
in a final salary scheme. For
more information on pension products, click onto a link
within the menu below.
What is an AVC pension plan?
An AVC is a type of pension plan, designed to 'top-up'
your current company pension plan. FSAVCs (Free Standing
AVCs) are also used by company pension plan members,
but instead of being part of the official company
plan, they are run as a separate product by a life
company or investment house. As a general rule, AVCs
have much lower charges than FSAVCs, but they tend
to offer a more limited investment choice.
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Great British Finance
Limited are authorised and regulated by the
Financial Services Authority (FSA). The FSA
does not regulate some forms of Mortgage, Inheritance
Tax Planning, Credit Cards, Personal Loans,
Deposit Accounts & Insurance. If you are
submitting an online request, we would advise
to read our KeyFacts statement, links are at
the top and bottom of this page. |
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