AVC (Additional Voluntary Contributions)
An AVC is an additional contribution you can make towards retirement on top of any contributions you are currently making via your occupational or staff pension.
This type of contribution is suitable for anyone who is already in a pension scheme through their employer but would like to contribute more towards their retirement.
For example, if a 40-year-old is in an occupational pension where their employer pays 5% and they pay 5% towards retirement, the employee under revenue rules can contribute up to an additional 15% in to an AVC.
If you have contributed towards an AVC the benefits must be taken in the same way as the benefits of your existing occupational scheme.