Anyone know anything about FSAVCs?

[Manc in London]

My dad has a couple of small pensions - one through his current employer and another through a previous employer.

He seems to think he has an FSAVC. However, he has not kept any details about his pensions. I can't be sure he even has an FSAVC. Someone has told him that if he is in a FSAVC, he needs to opt-out.

A couple of questions, how could he find out if he is in an FSAVC (I would have thought payroll at his current employer)? If he is in a FSAVC, how would he go about opting out?

Any help would be much appreciated.

 

[Millwallawayveteran1988]

They stand for Free Standing Additional Voluntary contribution and were payments made into pension plans usually by people who were members of final salary pension schemes as a way of topping up their pension benefits. The Free Standing bit though meant that in general these payments were made by the employee into a a pension of their choice and as such the employer is unlikely to have details.

In terms of tracing it may just be a case of
Looking through old paperwork or bank statements as the payment is likely to have come from the bank rather than payroll.

If you don't get anywhere I am sure there will be firms you can find online who will search for old pensions for you.

 

[Manc in London]

Thanks for that. Much appreciated.