Invest in your future and watch it grow
An Additional Voluntary Contribution (AVC) is a tax-efficient way to fund extra income when you retire. At retirement, you can use the money invested in an AVC to buy the additional pension benefits you want, subject to Revenue rules.
With an AVC you are investing in your future, to enhance your lifestyle and the financial security you enjoy in retirement.
Investing in an AVC allows you to save money for your future and get tax relief right now!
For example, if you pay income tax at 40%, for every €50 you invest in an AVC the actual cost to you is only €30! This is because you will get €20 of your €50 investment back in tax relief.
An AVC can help you bridge the gap on your pension benefits enabling you to retire early.
We are all living longer so why not spend those extra years on your own time.
It’s your AVC so you can increase, decrease, stop or restart your AVC contributions at any time.
This means as life events occur your priorities may grow; so can your investment, ensuring financial security when you retire.
Once you are a member of your employer’s Superannuation Scheme than you will be eligible to join an AVC Plan. Contributions are subject to the maximum contribution limit set by Revenue, and the minimum contribution of €75 per month (or equivalent).
When the time comes to retire, you choose what options suit you best, for example:
We really recommend you meet with one of our retirement planning experts who will take you through the process, step by step, to help you maximise your options.
Note: Options are subject to Revenue requirements and, therefore, may not all be available to everybody.
Almost 90%* think you should start planning your finances for retirement in your 20s & 30s!
This booklet contains full information on tax relief, value for money, changing your contributions, benefits at retirement, how to draw down your AVC - and more! For information on Funds and Strategies, please call us on (01) 420 6766.
Information on tax relief, value for money, changing your contributions - and more
View DocumentTime to retire? Here's how to settle your AVC.
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An Additional Voluntary Contribution (AVC) is a tax-efficient way to fund for extra income when you retire. At retirement, you can use the money invested in an AVC to buy the additional pension benefits you want, subject to Revenue rules. You must be a member of your employer’s Superannuation Scheme to be eligible to join the AVC Scheme.
There are lots of great reasons to start an AVC:
· You can benefit from tax relief
· You may have missed years of service
· You may wish to retire early
· You may wish to have greater financial freedom in retirement
Yes, you may increase or decrease, stop or re-start your AVC contributions when you wish. This is subject to the maximum contribution limit set by Revenue and the minimum AVC contribution level. Please note, any change made may take up to two months to affect your salary.
The money you invest in your AVC can only be accessed when you retire. When you are approaching retirement, your Retirement Planning Consultant will meet with you to go through all of your options and advise on which options best suit your needs.
For example, you could decide to take a tax-free lump sum, invest in an Approved Retirement Fund (ARF), take some taxable cash, purchase a pension and more.
Cornmarket offer a range of different AVC Schemes. Each Scheme has its own charging structure, please see here for more information.
You can set up your AVC in two ways:
Option 1 - Arrange a consultation via video call or face-to-face – anywhere in the country. Call (01) 420 6752 to make an appointment.
Option 2 – Complete a ‘No Advice’ AVC application form online here.
Public Sector pensions are our forté, we know them better than anyone else. We’ve been helping Irish public sector employees since 1972 and we're here to help you plan for your future.
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Read moreWarning: The value of your investment may go down as well as up.
Warning: This product may be affected by changes in currency exchange rates.
Warning: If you invest in this product you may lose some or all of the money you invest.
Warning: If you invest in this product you will not have any access to your money until you receive your Superannuation Benefits.
*Source: Cornmarket Customer Survey, September 2020 (738 respondents).