Glossary: Free-standing additional voluntary contributions

Similar to additional voluntary contributions (AVC), but independent (hence “free standing”) of any employer and sits alongside (and outside) any occupational pension scheme(s) you may be a member of, as well as any existing AVCs you may have with previous employers. As with AVCs, you get tax relief on contributions but you can only start one FSAVC in any one tax year.

Relevant to: Managing your pension

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