Avc in United Kingdom

Definition of Avc

In accordance with the work A Dictionary of Law, this is a description 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).