Additional voluntary contributions (AVCs) are contributions that employees can make at their discretion to increase the benefits available from their pension fund upon retirement. These contributions can go into an employer's scheme or a scheme of the employee's choice.
A contributory pension is a type of pension scheme where both the employee and the employer contribute to the employee's pension fund.
A defined-contribution pension scheme is a type of retirement plan wherein the benefits received depend on the contributions made by the member, the investment performance of those contributions, and the annuity available at retirement. Unlike defined-benefit plans, the pension amount is not predetermined.
A fund set up by a corporation, labor union, governmental entity, or other organization to pay the pension benefits of retired workers. Pension funds invest billions of dollars annually in the stock and bond markets, playing a significant role in the financial markets. Earnings on the investment portfolios of pension funds are tax-exempt.
A professional responsible for managing the securities portfolio of an individual or institutional investor, ensuring alignment with the client's financial goals and risk appetite.
A wage assignment is a voluntary transfer of earned wages to a third party for the purpose of paying debts, purchasing savings bonds, paying union dues, or contributing to a pension fund.
