P phoenix53 Registered User Messages 137 29 Jan 2024 #1 Morning. Could someone explain what the difference is between adding a single premium to your PRSA and doing AVCs. Can you have AVCs with a PRSA or is it only with an occupational pension? Why would you do an avc instead of a sp? Thanks
Morning. Could someone explain what the difference is between adding a single premium to your PRSA and doing AVCs. Can you have AVCs with a PRSA or is it only with an occupational pension? Why would you do an avc instead of a sp? Thanks
G GSheehy Registered User Messages 833 29 Jan 2024 #2 AVCs are additional contributions that you make to occupational pension schemes. The term AVC does not apply to individual or group PRSAs. It's a personal top-up if you want to add more money. But, a lot of people do refer to these top-ups as AVCs. It's just not knowing that an Occupational Pension Scheme & a PRSA Scheme are different. Gerard www.prsa.ie
AVCs are additional contributions that you make to occupational pension schemes. The term AVC does not apply to individual or group PRSAs. It's a personal top-up if you want to add more money. But, a lot of people do refer to these top-ups as AVCs. It's just not knowing that an Occupational Pension Scheme & a PRSA Scheme are different. Gerard www.prsa.ie
C Corola Registered User Messages 154 29 Jan 2024 #3 A single premium is a payment you've made manually to your pension, by a bank transfer. It is still a type of AVC. Regular AVCs that you've set up through your employer come out of your pay-check each month.
A single premium is a payment you've made manually to your pension, by a bank transfer. It is still a type of AVC. Regular AVCs that you've set up through your employer come out of your pay-check each month.