Free Standing Additional Voluntary Contributions (FSAVC)
As a member of a company pension scheme, FSAVCs allow you to make additional voluntary contributions separately of any pension provided by your employer.
Average life expectancy is increasing so saving in a pension - and topping it up - is a prudent way of helping to fund the lifestyle you want in retirement. Read more about the benefits of topping up.
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- Tax-efficient saving* - FSAVCs qualify for tax relief like other pension contributions do, and you can take a tax-free cash lump sum on retirement. Read more about the tax benefits. Please note that pensions in payment are taxed as earned income.
- Flexibility - you can vary, stop and start, and make regular or and/or lump sum payments at any time, even if you change jobs. Note that charges will still be applied and deducted and that any changes to your contributions will impact on your benefits at retirement.
- Range of funds - your pension contributions can be invested in a choice of funds. The funds actually available to you may depend on the particular scheme you join. Note that the value of your fund may fluctuate and you may not get back your original investment.
Review your FSAVC
To top up, change your contribution levels, or for any questions:(When quoting your FSAVC scheme number, this should start with an 8 and have eight digits in total [8*******])
- You can send us a secure message online anytime
- Or call us on 0845 640 2000 (Mon-Fri 8am-6pm)
- See the difference your contributions could make - AVC calculator
- For more general information, see our pension guide or AVC guide
*The above is based on our understanding, as of April 2011, of current taxation, legislation and HM Revenue & Customs practice, all of which are liable to change without notice. The impact of taxation (and any tax relief depends on individual circumstances).
