Additional Voluntary Contribution (AVC) refers to extra payments that employees can make to their pension scheme to boost the benefits they receive upon retirement. These contributions can be directed towards either the pension payable or a tax-free lump sum.
A comprehensive guide to Additional Voluntary Contributions (AVC) in the context of pensions, including their importance, types, benefits, and considerations.
Average Variable Cost (AVC) represents the variable cost per unit of output in Economics. It is calculated by dividing the Total Variable Cost (TVC) by the quantity of output (Q).
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