What is an FSAVC Pension?
At Profile Pensions we like to keep things simple. We try to avoid jargon and speak in plain English. Which is a challenge when we have to deal with acronyms like FSAVC. But OK, here’s our shot…
You probably already know (or a quick Google would’ve told you) FSAVC stands for ‘Free Standing Additional Voluntary Contribution Plan.”
The Additional Voluntary Contribution (AVC) bit means it’s an additional contribution above your standard workplace pension contribution. AVCs are set up alongside a workplace scheme or what we sometimes call a ‘final salary’ scheme. They’re designed to boost your overall pension pot. (And well done you if you are doing that).
Some AVC schemes are administered by your employer. But ‘Free Standing’ AVCs are just that – separate from your workplace pension. They are picked and controlled by you. And you’re not tied into taking your pension with your final salary payment.
If you don’t have an employee pension scheme in place already you can stop reading now. These should come first before you look at any other AVC schemes. And if you want to start there we’re happy to help. Just call 01772977162.
If you’re thinking of getting an FSAVC pension or shopping around for a better one then you probably already know a lot about pensions in general. And you probably have a good idea of what’s going to work best for you. But, what we can offer you is this…
How can Profile Pensions help?
The expertise and impartiality to make sure you’re getting the best FSAVC pension scheme around. That’s it. Call us and see. It’s free and there’s no obligation to talk about anything else. (i.e. we won’t try and sell you other schemes)
Oh, and if you’re not sure what sort of AVC you have (FSAVC or employer AVC) that’s fine. We get calls daily from people asking which one they have. We’ll be happy to tell you. And even though we don’t deal in AVCs we can tell you where to go next for advice.