Additional Voluntary Contribution (AVC)

Additional Voluntary Contributions (AVCs) are contributions made in addition to your normal Company Pension Scheme contributions to provide for increased benefits on retirement, within Revenue limits.

Additional Voluntary Contribution Personal Retirement Savings Accounts (AVC PRSAs) have become a very popular alternative to the traditional AVCs as they are not required to be set up under ‘irrevocable trust’. As with the Standard Personal Retirement Savings Account (PRSA), they are very flexible and the government has fixed the charging structure to ensure the availability of a low cost retirement savings plan.