I consent

Important Information Regarding Cookies and Cornmarket.ie

By using this website, you consent to the use of cookies in accordance with the Cornmarket Cookie Policy. For more information on cookies see Section 7 of our Website Privacy Statement.

Blog Homepage > The Ultimate Guide to AVCs


Most of us have thought about our futures and how we’d like to live when we retire. The reality of aging in modern Ireland is that we’re living longer lives, and so we need to be better prepared for how we’re going to spend our retirement years.

For some Public Sector employees, the Superannuation Pension may be enough to keep them ticking over financially when they retire. However for others, there may be a requirement for additional planning and investing in an AVC.

AVC’s are Additional Voluntary Contributions which you can make into a policy to build up an additional fund for your retirement.

Our AVC Schemes allow you to build up additional savings in a tax efficient manner which you can use to top up your employer pension benefits when you retire. Sounds pretty good, right? In the first part of this Ultimate Guide to AVCs, we’re going to touch on the basics of why an AVC might be right for you.

Is an AVC right for you?  

You should consider an AVC if:

  1. You want more financial freedom in retirement
  2. You’re strongly considering early retirement
  3. You have or will have a shortfall in Superannuation Benefits at retirement
  4. You want to pay less tax now

The best part of an AVC is that you choose how much you want to pay (within Revenue limits). The money that you get is yours to spend however you want. Fancy a cruise or want to go on that holiday of a lifetime? Whatever you choose, it’s completely up to you.

What are the benefits of an AVC with Cornmarket?

Our AVC Schemes come with plenty of benefits! These include:

  • No hidden charges: There are no hidden fees or anything like that. Instead, we charge a fee for our advice, while the policy has transparent contribution and annual management charges. We’re always upfront about this fee and the charges right from the start
  • Specialist advice: The advice you’ll get from our experts is straightforward and honest, one-on-one advice in the form of a Retirement Benefit Review. Our specialist consultants are highly trained and know exactly what they’re talking about. They’ll be on-hand to guide you through everything
  • Salary linking and salary deduction facility: That’s a pretty wordy benefit, but it basically means that your AVC contributions are taken directly from your salary by your employer so that you’ll get tax relief at source—i.e. you won’t need to claim tax back for tax return purposes! Handy. They are also taken as a percentage of salary, so if your salary goes up or down so too will your AVC contributions.
  • Retirement Planning Service: Our Retirement Planning Service is available to you on a complimentary basis. Our Retirement Planning specialists have plenty of knowledge to share with you. Who needs Google when you’ve got our specialists at hand!
  • Specialised software: Our consultants use unique software to make sure your AVC Plan is tailored individually for you and your particular requirements.

If an AVC is right for you, here are some of the other great benefits you may enjoy:

  1. Tax relief from Revenue through your payslip. If you invest in an AVC, you could get back €40 for every €100 you invest in your AVC plan. (Presuming you pay income tax at 40%, of course!)
  2. Greater flexibility in retirement, especially with regards to having more financial freedom and extra disposable income to spend on anything from a holiday to paying off the last of your mortgage
  3. An extra tax-free lump sum to spend on whatever you want (the technical term for this is gratuity.)
  4. An investment opportunity in an Approved Retirement Fund or Approved Minimum Retirement Fund, or an option to take a taxable lump sum
  5. An additional pension for you or your dependents, should you pass away after retirement
  6. You also have the option to ‘buy’ missed years of service through the NSP Scheme or you could use your AVC towards ‘buying’ employer benefits such as repaying a marriage gratuity.


Our AVC experts can help to establish if this is the right option for you. Click here or call us on (01) 420 0994 now, to find out if you can avail of these fantastic benefits in your retirement.