AVCs can come to the rescue - but at a price

Accessing additional voluntary contributions in pension funds can be advantageous in certain circumstances, writes Liam D Ferguson.

24th February, 2013
A potential windfall -- but any AVCs to be accessed early must be clearly identified as such. Photo: Getty

The Finance Bill, which was published on February 13, implemented December's budget measures - and added a few new ones for good measure. One of the measures was a scheme allowing early access to 30 per cent of pension funds accumulated by additional voluntary contributions (AVCs) before retirement age.

Early access is allowed only to funds accumulated by AVCs. Controversially, the scheme excludes self-employed sole traders and unlimited partnerships, who can only contribute to personal pensions or...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago