Free Standing Additional Voluntary Contributions |
| An employee's pension scheme that is additional to but independent from the occupational pension scheme. Ceased to be applicable after the so-called ãA-dayà in April 2006. The maximum amount which could be contributed to an employee's pension fund was 15% of salary (including benefits in kind). For example if an employee contributed 10% of salary to a company scheme, a further 5% could be paid by that employee in each tax year into FSAVCs or AVCs. |
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