You can make a last minute Additional Voluntary Contributions (AVC) payment into your pension scheme before you retire. This can be particularly attractive for you if you can get tax relief on the contribution you make before you retire and if you can then get back your AVC fund as a tax free lump sum on retirement.
Making regular AVC contributions can help you to build up a bigger fund for your retirement. Depending on your circumstances, you may not have the necessary income in retirement to maintain your current lifestyle. AVCs can be used to minimize any shortfalls in your benefits at retirement.
Take a quick look at our video for more information.
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