Free standing additional voluntary contributions - An employee"s pension scheme which is additional to but independent from his occupational pension scheme. The maximum amount which may currently be contributed to an employee"s pension fund is 15% of salary (which includes benefits in kind) including his company scheme. For example if an employee is contributing 10% of his salary to a company scheme, a further 5% can be paid by that employee in each tax year into FSAVCs or AVCs. However, the employer and employee contributions when combined must not produce benefits in excess of Inland Revenue maximums.
Free standing additional voluntary contributions : an employee"s pension scheme which is additional to but independent from his occupational pension scheme. the maximum amount which may currently be contributed to an employee"s pension fund is 15% of salary (which includes benefits in kind) including his company scheme. for example if an employee is contributing 10% of his salary to a company scheme, a further 5% can be paid by that employee in each tax year into fsavcs or avcs. however, the employer and employee contributions when combined must not produce benefits in excess of inland revenue maximums.
Free standing additional voluntary contributions