This programme is part of the upcoming University of Limerick's Research Careers and Development Programme and is aimed for Research Staff
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Current StaffHR ServicesPensions & SuperannuationAdditional Voluntary Contributions (AVC's) & Notional Service
Current StaffHR ServicesPensions & SuperannuationAdditional Voluntary Contributions (AVC's) & Notional Service
Additional Voluntary Contributions (AVC's) & Notional Service
Members of the University of Limerick's Superannuation Scheme may maximise their pension benefits in two ways:
- Additional Voluntary Contributions (AVCs), or
- Notional Service
Additional Voluntary Contributions (AVCs) AVCs are extra pension contributions which an employee may make on a voluntary basis, either by periodic deductions or by lump sum, to increase his / her pension benefits. These contributions are held in trust by the Trustees and can only be used by them for the benefit of the member. The Trustees of the UL AVC Scheme are Irish Life and the Administrators of the Scheme are Mercer (Ireland) Limited.
Members of the UL AVCs Scheme have a choice of investment funds in which his / her AVC contributions may be invested. These funds are:
- Active Managed Fund
- Capital Protection Fund
- Cash Fund
- Consensus Fund
- Diversified Balanced Fund
- Indexed 50/50 Equity Fund
- Individual Investment Strategy
- Secured Performance Fund
Further information on the UL AVC Scheme can be found in the UL AVCs Members Guide and the AVC Decision Tree.
To make Additional Voluntaray Contributions simply complete the UL AVCs Application Form and return to the Pensions Section, Human Resources Division.
Please click here if you would like to view your AVC fund information. Log on and enter the University of Limerick Scheme number 608816. You will also need your own individual membership number which is listed on your AVC benefit statement. You can then register by answering two security questions and you will be sent your personal access code (PAC) via e-mail. This allows you to view your individual fund information. If you have any queries concerning your AVC fund, you may contact jim.o'neill@mercer.com.
Notional Service
Notional service allows members of the University of Limerick's Superannuation Scheme to purchase additional years of reckonable service, either by periodic deductions or by lump sum, thereby increasing their superannuation entitlement.
Further information on Notional Service can be found in the Notional Service Purchase Scheme Explanatory Booklet.
To purchase Notional Service, please email pensions@ul.ie to arrange a meeting with a member of the Pensions Team.
