Definitions for "FSAVCs"
Like AVCs they are classed as additional voluntary contributions to a pension scheme. The FS indicates free-standing, industry jargon for a product offered not by an employer but by an outside provider. Charges are usually higher than for a company AVC scheme.
these are additional voluntary contributions that are made into a free-standing pension fund (usually provided by an insurance company). As with AVCs the employee's contribution is limited to 15% of their net relevant earnings and they do attract tax relief at the individual's highest rate.