Top up your Pension with an AVC

Save a little more for your pension by topping up with an AVC


What is an AVC?

Additional Voluntary Contributions are extra payments you can make in addition to your existing pension. Whether you started your pension later in life, or have extra cash to put away, an AVC could be the pension option for you.

AVC Features

  • Top up your pension at any time so that you receive a larger pension upon retirement.
  • Highly tax efficient compared to a savings account. You can maximise your tax-free lump sum upon retirement and are also eligible for tax relief on your investment. e.g. If you invest €100, it will only cost you €60 assuming you pay tax at 40%.
  • Choose to make contributions to your pension through your company or privately. 
  • Change your contributions at any time to suit your personal circumstances. Even pause them if you wish.

How do I take out an AVC?

You can speak with our Pension Advice Team for free. Someone is always available to chat with you online or take your call to discuss your options. 

Your Questions Answered

Most frequently asked questions and answers

An pension plan is a longterm investment savings plan that helps you put something aside for your retirement. A pension plan enables you to pay regular tax-friendly installments or move one-off lump sums into a fund available to you on retirement. The amounts saved into your pension are called ‘contributions’

We’re living longer than previous generations. Upon retirement, on average we will have 20-30 years of retirement. A pension plan will make sure you’re financially sound for these years. Whether you wish to travel, retire to the country, or spend time with your children & grandchildren.

As soon as possible. The money that you pay into your pension grows over time. It’s quite simply Time x Money. The sooner you start paying in; the more money will be available to you upon retirement.

The amount you will receive per month entirely depends on how much you’re willing to pay per month, the length of time you’ve been making contributions, the type of pension plan and its investment return. You can also choose to receive a lump sum upon retirement or not.

As of today, the State Contributory Pension is about €240 per week. For most people, during their 20-30 years of retirement, this simply isn’t enough. When you pay into a pension plan, you will receive both the state pension (If available to you) and your Pension Plan.

If you have to retire because of medical reasons and you get Revenue approval, you can receive your benefits from your Pension immediately.

If you unfortunately pass away before you retire, your Pension will be paid to your estate.

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