Last Minute AVCs

A Last Minute AVC is a Revenue Approved mechanism which enables you to maximise your tax-free cash prior to retirement, and an excellent way of funding any shortfall in pension provision between the tax-free cash lump sum provided for within the superannuation scheme and the maximum Revenue-approved tax-free cash entitlement.

The benefits of investing in a Last Minute AVC are:

• Receiving a refund of tax on pension contributions
• Maximising your tax-free cash lump sum at retirement

How does it work?

A single investment in an AVC is made prior to retirement, and following retirement the member receives a tax rebate direct from Revenue. Shortly after retirement the member will also receive back their initial investment less charges. The member can achieve a substantial net gain on the investment within a number of weeks. Please note – it is the member’s own responsibility to claim the rebate from Revenue. The tax reliefs available are those currently applying and the value of these tax reliefs apply directly to the member.

How do I know if I am eligible?

Following a consultation, which can take place over the phone or face to face, we will establish the maximum tax rebate available to you. It is possible to use up any unused allowance for 2008 in addition to 2009. Your service, age and tax band are a few of the factors which must be considered in establishing your eligibility.

More Information

To find out more, download the Last Minute AVC Factsheet below or contact Marsh today for independent, expert advice on how a Last Minute AVC can improve your pension and lump sum benefits at retirement. Call us on freephone 1800 781 783 or email us using the link on the right of this page.