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What Is An FSAVC?

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FSAVC stands for Free-Standing Added Voluntary Contributions – a way some members of Occupational Pension Schemes to voluntarily contribute more to their pension benefits if they choose.

By becoming a member of an FSAVC scheme, a pension saver may be able to build extra pension benefits for themselves in retirement on top of their occupational pension, such as receiving larger pension payments upon retirement.

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We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.


When you get let down by someone you thought you could trust, it can leave its mark on you, emotionally and physically.


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What Is The Difference Between AVCs And FSAVCs?

FSAVCs differ from AVCs because they are NOT connected directly to a workplace pension. Instead, FSAVCs were offered by insurance companies. They are defined contribution schemes (pay out relating to what is paid in and how well the funds perform).

AVC schemes are also defined contribution schemes, but are connected to an occupational scheme, allowing members to buy additional months or even years of membership from the main defined benefit pension scheme, increasing the pensionable benefits.

What Are The FSAVC Pension Rules?

FSAVC’s are still a regulated financial product, and of course come with a set of rules. We’ve listed a few of the ones that stand-out here, but you should always make sure you consult with a qualified and regulated financial adviser when considering taking action over pensions.

The rules changed in 2006, making FSAVCs a less popular choice in comparison to an alternative personal pension or stakeholder pension.

  • You may be able to access your FSAVC from 55.
  • You may be able to receive up to 25% as a tax-free lump sum.
  • FSAVCs qualify for tax-relief*


Can I Transfer A FSAVC To A Company Pension?

Answering questions like this is why good financial advice is really important. ALWAYS seek independent advice from a regulated adviser before making changes to your pension arrangements.

In short, it may be possible to transfer an FSAVC to a company pension, but it will depend on a number of factors determined by the FSAVC provider, the desintation scheme and the pension holder, making getting the right advice and doing your research all the more important.

Can You Transfer An FSAVC To A Personal Pension?

Broadly speaking, an FSAVC IS a personal pension – something of a personal add-on to an occupational pension. Again, transfers between FSAVC providers and other personal pensions may or may not be possible depending on the circumstances.

What Happens To An AVC If You Die?

As with most personal pensions, holders of FSAVCs should have designated a beneficiary in the event of death before pensionable age. Check with your FSAVC provider to ensure this has been done in your case.

Do you know how people complained about mis-sold investments and pensions in the last year?

A lot. Over twenty thousand complaints were made about mis-sold pensions and investments in 2020/21, a figure which had doubled since the year before.. It’s no secret how serious this problem is, and it just seems to keep getting worse.

People receive poor financial advice every day. Sometimes they don’t even realise that they’re owed whopping amounts of compensation.
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especially if you’ve been misled in the past.

But getting in touch with us won’t commit you to anything. We want to toss you a lifeboat and guide you through the choppy waters of the financial ocean, not leave you struggling to stay afloat. Our experts are here to offer advice and support on financial claims. We know what we’re doing and you can trust that if you’ve got questions, we’ve got answers.

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Spencer Churchill Claims Advice Will:

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  • Do absolutely everything we can to win your claim

Speak to an expert today

We have decades of experience in helping people claim back money that is rightfully theirs. Whether you want to make a mis-sold pension claim, have questions about a mis-sold investment, or you’re just looking for some advice you can trust – we’ve got you covered. Reach out to our team today for a no-obligation, completely free chat. 

Call: 01204929929

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