Free-Standing Additional Voluntary Contribution
(FSAVC) - An Additional Voluntary Contribution
plan which is separate from an individual's occupational pension fund.
5m additional voluntary contribution
in line with last year's agreement.
The reason is that many belong to Additional Voluntary Contribution
plans through their employer.
For example, at present you can only take 25% of the fund as tax-free cash from Personal Pension (PPP) or Stakeholder plans, none from Additional Voluntary Contribution
schemes (AVCs), and Final Salary and Occupational Pension schemes being governed by statute or Inland Revenue rules.
Speak to your Independent Financial Adviser or your employer, if you are a member of an occasional scheme, as you may be able to pay extra contributions via an Additional Voluntary Contribution
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
3 million funded by voluntary contributors and the remainder made up by additional voluntary contributions
from the UAE, Germany and Austria.