Occupational Pension Schemes

Occupational pension schemes are those offered by an employer for their employees.  The employer always contributes to occupational pension schemes and the employee may or may not be required to contribute. 

An occupational pension scheme may be a defined benefit (also known as final salary) scheme, or may be a defined contribution (also known as money purchase) scheme.

The premiums paid by the employee are tax deductable subject to certain limits.

Occupational pension scheme members are able to top up their pension entitlement by payment of Additional Voluntary Contributions (AVCs) or Free Standing Additional Voluntary Contributions (FSAVCs).

 All of these types of pension fund can generally be transferred to Australia.