Additional Voluntary Contributions 

Definition

Additional Voluntary Contributions may be made on a regular or ad hoc basis and may be flat rate, percentage, or mixed value, irrespective of the type of pension scheme the employee pays into regularly. This means that an employee could pay into a flat-rate pension scheme and make flat-rate or percentage Additional Voluntary Contributions (AVCs).

Integration

Regular AVCs

You can either enter details in the Supplements group box of a particular pension scheme record, or set up a dummy scheme specifically for these contributions

Ad Hoc AVCs

If an employee makes irregular AVCs, it is advisable to set up a dummy pension scheme for each contribution. This so-called scheme that you set up should be valid for the payroll period in which the employee wishes to make the AVC.