People in occupational pension schemes can pay in extra money to increase their pension benefits. The extra money they pay in an additional voluntary contribution.
Also called an optional contribution, this is any extra money paid into the pension scheme by the employee in order to gain additional benefits at retirement. The employer does not normally match these contributions.
An additional contribution made By a pension scheme member to his pension plan to help boost the final payout.
A contribution to a pension plan by a member beyond any amount that the member is required to contribute by the terms of the pension plan that does not give rise to an obligation on the employer to make additional contributions.
Extra contributions paid by an occupational pension scheme member to provide additional benefits. Organised on a group basis, unlike FSAVCs. Must not exceed 15% of total taxable earnings, including any existing scheme contribution. Resulting benefits can be money purchase or in a final salary scheme extra years of service may be granted. See ' Free Standing Additional Voluntary Contribution'.
An additional contribution made voluntarily by a member of a pension scheme to augment the contributor's ultimate pension.
Optional contributions made to a registered pension plan by a plan member.
This is an extra amount ( contribution ) a member can pay to their own pension scheme to increase the future pension benefits.
