Common use of Additional Voluntary Contributions Clause in Contracts

Additional Voluntary Contributions. Nothing in this Schedule shall apply to AVCs or to benefits secured by them (excluding added years benefits that are included in the calculation of the Transfer Amount). However, the Authority shall use reasonable endeavours to ensure that the assets representing each Transferring Member's AVCs held with an insurance company (if any) shall be transferred to the Contractor’s AVC Scheme. The Contractor shall (and shall procure that each relevant Sub-Contractor shall) ensure that the Contractor’s Scheme provides benefits for each relevant Transferring Member which are equivalent to the assets transferred.

Additional Voluntary Contributions. Nothing in this Schedule shall apply to AVCs or to benefits secured by them (excluding added years benefits that are included in the calculation of the Transfer Amount)them. However, the Authority Authorities shall use reasonable endeavours to ensure that the assets representing each Transferring Member's AVCs held with an insurance company in the Fund (if any) shall be transferred to the Contractor’s AVC Scheme. The Contractor shall (and shall procure that each relevant Subsub-Contractor contractor shall) ensure that the Contractor’s Scheme provides benefits for each relevant Transferring Member which are equivalent to the assets transferred.