AVc
If you are expecting a pension 2/3rds salary (cuurntly €40k) at age 65, then it may be that you cannot fund any more pension in your own right, other than :
* funding for addiding a widows pension payable to a surviving spouse on your prior death, and
* funding for a level of indexation on your 2/3rds pension in retirement.
But if these benefits are already provided in some format in your main scheme, then this may limit the scope for AVC.
An AVC contribution of €4,500 or €5,500 p.a. will build up a significant fund by age 65. You will need to make sure that you can use this fund to provide additional benefits all within Revenue limits. Otherwise you will simply reduce what the Employer provides.
If you can fund at a level of €5,500 p.a. then it is reasonable to do so (unless you horse is a "sure thing").
BUt in view of the numbers you are stating, I really think you should consult the Trustees/Advisor.