Additional Voluntary Contributions

maximise your pension options at retirement

What is an AVC?

Additional Voluntary Contributions (AVC’s) are tax-efficient, extra savings you make to maximise your pension options at retirement.

AVC’s can be deducted through your payroll and/or made as lump sum investments. You cannot withdraw money from an AVC fund until you retire, but you can decide to increase, decrease or cease your contributions at any time.

For most Eircom & An Post employees, the benefits of the main pension plan are lower than the maximum benefits permitted by the Revenue Commissioners. Therefore, you have scope to pay AVC’s and increase your retirement benefits, without breaching the Revenue maximum benefits rule.

For example, some items are not included in the pension from the main plan – e.g. overtime, bonuses, benefit in kind and a full widow’s pension.

AVC’s fill this shortfall, and you can access the AVC fund at retirement.

Why make AVC’s?

  • Tax relief on regular contributions.
  • Tax rebate on lump sum contributions.
  • Tax Free compound investment growth.
  • Maximise your retirement tax free lump sum and increase your fortnightly pension.

Eir TUG AVC Scheme Details

It would be great if you could save unlimited amounts into your pension fund and still receive tax relief, but because the tax breaks are so good, the Government have established limits which apply to your total contributions.

Eir TUG AVC Scheme Details

It would be great if you could save unlimited amounts into your pension fund and still receive tax relief, but because the tax breaks are so good, the Government have established limits which apply to your total contributions.

Eir TUG AVC Scheme Details

Eir TUG AVC Scheme Details

Eir TUG AVC Scheme Details

>>>FOR EIR EMPLOYEES<<<
>>>FOR EIR EMPLOYEES<<<

Eir TUG AVC Scheme Details

Please read the scheme details and review the policy documents below.

Eir TUG AVC Scheme Details

>>>Click to Download Application Form<<<

Please view this short 3 minute video about the AVC Scheme:

Eir TUG AVC Scheme Details

We have the eir TUG AVC Scheme with Irish Life. The scheme provides employees of eir with the opportunity to make extra provision for retirement.

  • eir and the eir Trade Union Group (TUG) established the AVC Scheme to provide staff with the opportunity to make extra savings for their retirement in a convenient and tax-efficient manner.
  • Any contributions you make (up to certain limits) will receive full income tax relief
  • At retirement, you may be able to take part of your accumulated fund as a tax-free cash lump sum (subject to Revenue limits).
  • You have a say in how your money is invested.
  • The AVC Scheme can enhance your benefits if you retire early.
  • The AVC Scheme is completely voluntary. You decide if you wish to join the plan and how much you wish to contribute.
  • The AVC Scheme benefits are provided through an AVC policy in your name, taken out with Zurich Life, and the actual benefits will depend on whatever the AVC Investment Account has accumulated for you under this policy.
  • The scheme follows an Automatic Investment Strategy for regular contributions, that offers aggressive investment in the early years, while you still have many years to go to retirement. This is followed by a more cautious strategy as you approach retirement. If you select the Automatic Investment Strategy, PensionSTAR, this will automatically redirect regular contributions and switch units between funds at pre-agreed future dates.
  • For lump sum single premium contributions, which cannot follow the above investment strategy, however based on current market, we currently recommend the Prisma 2 fund, see attached information sheet. 

Please read the eir Pamphlet and the scheme Explanatory Booklet which outlines the main details of the scheme and answers some of the most frequently asked questions. 

Irish Life bank details

You can pay a single premium by EFT.

Account Name: Irish Life Ass plc New DC Receipts 
Account Address: Ulster Bank, College Green, Dublin 2
 
Account number: 05990932
Branch sort code: 98-50-10
IBAN: IE23 ULSB 9850 1005 9909 32
BIC/SWIFT CODE: ULSBIE2D
 
Please email brian@halligan.ie to confirm the date and amount paid so that I can arrange for the policy to be set-up, premium to be allocated and a tax certificate issued.

Eir TUG AVC Scheme Details

Please read the scheme details and review the policy documents below.

Eir TUG AVC Scheme Details

>>>Click to Download Application Form<<<

Eir TUG AVC Scheme Details

We have the eir TUG AVC Scheme with Irish Life. The scheme provides employees of eir with the opportunity to make extra provision for retirement.

  • eir and the eir Trade Union Group (TUG) established the AVC Scheme to provide staff with the opportunity to make extra savings for their retirement in a convenient and tax-efficient manner.
  • Any contributions you make (up to certain limits) will receive full income tax relief
  • At retirement, you may be able to take part of your accumulated fund as a tax-free cash lump sum (subject to Revenue limits).
  • You have a say in how your money is invested.
  • The AVC Scheme can enhance your benefits if you retire early.
  • The AVC Scheme is completely voluntary. You decide if you wish to join the plan and how much you wish to contribute.
  • The AVC Scheme benefits are provided through an AVC policy in your name, taken out with Zurich Life, and the actual benefits will depend on whatever the AVC Investment Account has accumulated for you under this policy.
  • The scheme follows an Automatic Investment Strategy for regular contributions, that offers aggressive investment in the early years, while you still have many years to go to retirement. This is followed by a more cautious strategy as you approach retirement. If you select the Automatic Investment Strategy, PensionSTAR, this will automatically redirect regular contributions and switch units between funds at pre-agreed future dates.
  • For lump sum single premium contributions, which cannot follow the above investment strategy, however based on current market, we currently recommend the Prisma 2 fund, see attached information sheet. 

Please read the eir Pamphlet and the scheme Explanatory Booklet which outlines the main details of the scheme and answers some of the most frequently asked questions. 

Irish Life bank details

You can pay a single premium by EFT.

Account Name: Irish Life Ass plc New DC Receipts 
Account Address: Ulster Bank, College Green, Dublin 2
 
Account number: 05990932
Branch sort code: 98-50-10
IBAN: IE23 ULSB 9850 1005 9909 32
BIC/SWIFT CODE: ULSBIE2D
 
Please email brian@halligan.ie to confirm the date and amount paid so that I can arrange for the policy to be set-up, premium to be allocated and a tax certificate issued.