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:
- EMPOWER Cash Fund (cash)
- EMPOWER Stability Fund (mixed assets)
- EMPOWER Cautious Growth Fund (mixed assets)
- EMPOWER Pension for Life Fund (bonds)
- EMPOWER Growth Fund (mixed assets)
- Indexed World Equity Partially Hedged Fund (equities)
- EMPOWER High Growth Fund (mixed assets)
Further information on the UL AVC Scheme can be found in the UL AVCs Members Guide. To make Additional Voluntary Contributions simply complete the UL AVCs Application Form or the AVC Top Up Single Premium 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 firstname.lastname@example.org.
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 email@example.com to arrange a meeting with a member of the Pensions Team.