Additional Voluntary Contributions (AVC’S)

AVC’s for Public and Private Sector Employees. Maximizing returns, minimizing costs.

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What Are Additional Voluntary Contributions (AVCs)?

AVCs (Additional Voluntary Contributions) are extra payments you can make into your pension on top of your regular contributions.

Whether you work in the public or private sector, as an employee or self-employed, we can help you optimise your pension.

Why Consider an AVC in Ireland?

    • Work in the public sector (e.g., teacher, nurse, civil servant) or a member of your employers occupational pension scheme.

    • Have unused pension contribution allowances and want to take advantage of tax relief.

    • Took career breaks or worked part-time and have gaps in your pension service.

    • Receive overtime or bonuses and want to invest those earnings efficiently for retirement.

    • Up to 40% Tax Relief – Contributions receive income tax relief at your marginal rate, just like regular pension contributions.

    • Flexible Contributions – Pay monthly or as a lump sum at the end of the tax year; the choice is yours.

    • Investment Options – AVCs are invested through your employers scheme or in an AVC PRSA.

    • Employers schemes are limited to one investment provider and limited funds. AVC PRSA’s can access any providers funds.

    1. Through your employer’s scheme – deducted from salary via payroll.

    2. Through an AVC PRSA – paid directly from your bank account.

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Public Sector AVC’s and Private Sector AVC’s

Public Sector - Teacher, Nurse, Guard AVC’s

Public sector employers are enrolled in the State’s superannuation scheme, which is based on a combination of Salary and Service.

An AVC allows you to make an additional investment, on top of what you contribute and receive from the state. Up to Revenue approved limits.

Public sector scheme’s can vary depending on the date you joined the civil service, and specific advice here is vital.

Pre 1995, 1995 - 2013 and 2013 + are key dates for Irish Public Sector Employees considering AVC’s.

I'm in the Public Sector

Private Sector AVC’s

Private sector employees can enroll in the employer’s Defined Contribution (DC) pension, which is based on the value invested and the performance of the investment.

An AVC allows you to make an additional investment, on top of the Employer and Employees existing investment. Up to Revenue approved limits

The Employer’s contribution is not considered in your personal limits, allowing you to maximize your investment.

I'm in the Private Sector

FAQs

  • Investing at, or as close to your Revenue approved limit will maximize tax relief and ensure best placement for retirement.

    The maximum Revenue approved percentage of your income that can be contributed to a pension scheme, including AVCs, is based on your age:

    • Under 30: 15%

    • 30–39: 20%

    • 40–49: 25%

    • 50–54: 30%

    • 55–59: 35%

    • 60 and over: 40%

    These percentages apply to your income from employment, up to the €115,000 limit.

  • Revenue has determined the tax relief you receive by your marginal rate of income tax.

    Earners of €44,000 per year and below, can receive 20% in tax relief.

    Earners of €44,000 per year and above, can receive 40% in tax relief.

  • No. The cost to you is the contribution itself, which you have full control of and will always be cheaper after receiving tax relief.

  • AVC’s can be accessed with other pension plans, usually between 60 and 75 years old.

    However, This can vary in different circumstances and schemes.