DNG Financial Services: AVC’s
DNG Financial Services: AVC’s
Key features and benefits of AVC’s include:
AVCs offer individuals the flexibility to increase their retirement savings beyond mandatory contributions, allowing for tailored pension planning according to individual financial goals.
Contributions to AVCs may provide tax relief, offering individuals the opportunity to reduce their taxable income and maximise pension savings.
By contributing to AVCs, individuals can potentially boost their retirement income, ensuring a more comfortable and secure financial future in retirement.
AVC’s FAQ
Additional Voluntary Contributions (AVCs) are extra pension contributions individuals can make on top of their mandatory pension contributions, allowing for increased retirement savings.
Generally, employees with occupational pension schemes can make AVCs, subject to scheme rules and contribution limits.
AVCs provide individuals with the opportunity to enhance their retirement savings, potentially increasing their pension pot and ensuring a more financially secure retirement.
Contributions to AVCs may qualify for tax relief, offering individuals the opportunity to reduce their taxable income and maximise pension savings.
AVCs are typically designed to provide additional income in retirement and may be subject to restrictions on early withdrawals. It's essential to check with your pension provider or financial advisor for specific details.
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