Free Standing Additional Voluntary Contributions
(FSAVCs).
Free standing additional voluntary contribution schemes (FSAVCs) were introduced in 1987.These are run by a pension provider rather than the trustees of the employee’s pension scheme.
The big advantage tends to be the wider choice of investment available.
FSAVCs tax relief and contribution
limits.
To receive full benefits of tax relief , pension contributions have to
remain within a certain limit. Currently the limit is the greater of
£3,600 and 100% of salary, subject to the annual allowance (£235,000 in
the 2008/2009 tax year). Any contribution over the annual allowance will
be subject to a tax charge.
Level and bases of, and reliefs from taxation are subject to change.
