Additional Voluntary Contributions
Why Make AVCs?
Additional voluntary contributions (AVCs) are an important part of the Silver Thatch Pensions programme. These contributions:
- allow you to boost your pension income by as much as you want;
- allow you to save through the convenience of payroll deductions;
- give you the flexibility to start, stop or change the level of your contributions at any time;
- offer you control over your investments – you decide where to invest your AVCs, picking from a range of professionally-managed investment portfolios;
- give you access to quality investments typically not available to investors with modest amounts of money; and
- allow you to alter the overall risk-reward position of your investments (see Investing your AVCs).
AVCs are deposited into your member account.
If you wish to make AVCs, complete an Additional Voluntary Contributions Form. This form is used to:
- tell us how much you wish to contribute in AVCs;
- instruct us where to invest your AVCs; and
- move your existing AVC investments from one investment portfolio to another.
Once you submit your form, contributions will be deducted from your pay cheque, usually starting with the next full pay period. If you don’t tell us how to invest your AVCs, they will be invested automatically on the same basis as your basic contributions. Keep in mind that you cannot withdraw AVCs until retirement, or as otherwise permitted under the pension law.
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