Definitions for "Additional Voluntary Contribution"
People in occupational pension schemes can pay in extra money to increase their pension benefits. The extra money they pay in an additional voluntary contribution.
Also called an optional contribution, this is any extra money paid into the pension scheme by the employee in order to gain additional benefits at retirement. The employer does not normally match these contributions.
An additional contribution made By a pension scheme member to his pension plan to help boost the final payout.