Additional voluntary contributions to an insured defined contribution scheme that is independent of the member’s occupational pension scheme. Where contributions exceed £2,400 per annum (year 2002/3) the FSAVC administrator must carry out a headroom check except for scheme members with net relevant earnings below £30,000 who also contribute £3,600 each year to a stakeholder pension. An FSAVC must be used to purchase a retirement annuity with no tax-free lump sum.