Avc

English Legal System: Avc

In the context of the English law, A Dictionary of Law provides the following legal concept of Avc : (additional voluntary contribution,AVC)

An additional payment that may be made by an employee to a pension scheme in order to increase the benefits available from their pension fund on retirement. AVCs can be paid into an employer’s scheme or into a scheme of the employee’s choice (a free-standing AVC); they can be made free of tax within Inland Revenue limits (See pension).