Pension Forms B and Solo each have space for recording additional voluntary contributions. The default AVC value to be put on pension forms is entered on the Options form. You can enter a fixed amount such as £50, or a percentage figure such as 10%. The default AVC figure you enter will be used the next time you calculate a pension form.
The AVC calculated for each form is shown on the pension grids, and can be altered on an individual basis. For example, if you normaly pay an additional 10%, but for one month you dont want to pay any extra, just change the AVC column on the pension grids for that specific month. Changing the value of an AVC automatically changes the Total Contributions figure.
If you have selected to use Scottish pension forms, the AVC figure is ignored and 0 is entered in the AVC column for each form.
Pension legislation is complex and subject to change. PennyPerfect make no claim the information represented here is correct, or that the pension calculations within the PennyPerfect software are correct.