Read a few negative things here about Cornmarket and AVC's(I'm a primary teacher) so I rang DES and asked for a quote with regards purchasing notional service.I'll be 36 later this month and will be 2 years 65 days short on my 60th birthday.So they did all the figures and said "the estimated cost to purchase shortfall per fortnight=€41.82."
Couple of questions-
-says on form that tax relief is allowed at 20% of remuneration but is relief on AVC's not 41%??..why the difference?
-with the possibility of current gov extending retirement age,would this scheme be a waste of my time?
-also gov will probably slash tax relief so should I wait til after budget?
-why are so many people favouring notional service purchase as opposed to AVC's??What are the benefits of NSP?
Sorry about all the questions but I get a bit confused when it comes to these financial decisions!!
Couple of questions-
-says on form that tax relief is allowed at 20% of remuneration but is relief on AVC's not 41%??..why the difference?
-with the possibility of current gov extending retirement age,would this scheme be a waste of my time?
-also gov will probably slash tax relief so should I wait til after budget?
-why are so many people favouring notional service purchase as opposed to AVC's??What are the benefits of NSP?
Sorry about all the questions but I get a bit confused when it comes to these financial decisions!!