Additional Voluntary Contributions (AVCs)
One of the ways in which you can top up your occupational pension scheme is by paying into an AVC run by your employer, if they offer this option.
Types of AVC include:
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Added years AVC
This only applies to final salary (defined benefit) schemes. Contributions are used to buy 'added years' to increase the number of years of service in your main scheme. -
In-house AVC
This is run through your employer's pension scheme. Your employer bears the administrative costs, meaning that topping up this way is likely to be cheaper for you than topping up your pension by other means. -
Matched AVCs
These apply to Defined Contribution /Money Purchase Schemes. The major incentive to buy matched AVCs is that the employer will match the employee's contribution to a defined level e.g. an employer could pay 1% for every 1% an employee pays, up to a specified maximum. -
Bolt-in schemes
In-house schemes in which employees bear the administrative cost. -
Money purchase AVC
You make the contributions that build up your pension fund and bear the administrative costs. Your employer may agree to match your contributions.
Find out more about AVCs
To learn more about how Barclays could help you, please contact us and we'll be in touch as soon as possible.
Legal information
Barclays offers wealth and investment management products and services to its clients through Barclays Bank PLC and its subsidiary companies. For further information on these companies and Barclays please read the Important Information. Each Barclays company reserves the right to make a final determination on whether or not you are eligible for any particular product or service.
