The end of the year brings the joy of Christmas, the excitement of festivities, and, for many workers, the much-anticipated bonus. It is a time for giving, celebration, and reflection. But amidst the season’s sparkle, have you thought about giving yourself a gift that lasts longer than the season?
While Christmas shopping and holiday spending are inevitable, setting aside a portion of your bonus to boost your pension could be the most meaningful investment you make this year.
Did you know you can grow your Retirement Savings Account balance faster by making Additional Voluntary Contributions (AVC)? This option allows you to top up your pension savings with extra funds, ensuring you are retired to comfort.
How AVCs Work
AVCs are flexible—you decide how much to contribute, based on your income and goals. When you allocate a portion of your end-of-year bonus to your RSA as an AVC, you are essentially giving your future self the gift of financial security. The benefits include:
- Opportunity to boost your pension balance faster.
- Additional Voluntary Contributions can reduce your taxable income.
- You can also use the savings from your AVC to fund personal projects.
- AVCs are accessible one year after you started contributions
Why This Matters
The holiday season often tempts us into spending everything we earn, but it’s also the perfect time to think long-term. By setting aside even a small part of your bonus, you are not just saving—you are building a foundation for a comfortable and fulfilling future.
So, this Christmas, give yourself a special gift. Use your bonus to boost your RSA and watch your future self thank you for it.
To get started, inform your HR department about his decision, specify the amount you want to contribute, and it will be added to your RSA. To learn more, email us at info@leadway-pensure.com