I'm hoping to get advice here. Myself and my husband are both teachers and had a rep from cornmarket visit recently. She talked us through avcs but want other opinions as I'm clueless.
Me: retiring at 55 I'd get lump sum of 81k and pension of 27k
Retiring at 60: lump sum 96k
Husband: retiring at 57 lump sum 97k salary 32k
Retiring at 62 lump sum 114k.
It was suggested to pay into avc's to make up shortfall of lump sums
Doubt I'll be able to retire at 55 for a few reasons I'm 31 now and have a 30 year mortgage so I'd still have 6 years left. Also no kids yet but plan to so would have to fund their college courses too prob. So what would you do in our circumstances. Rep explained that you are trying to beat inflation. I am really clueless so many people sat avoid avcs but want to be ready for retirement
Me: retiring at 55 I'd get lump sum of 81k and pension of 27k
Retiring at 60: lump sum 96k
Husband: retiring at 57 lump sum 97k salary 32k
Retiring at 62 lump sum 114k.
It was suggested to pay into avc's to make up shortfall of lump sums
Doubt I'll be able to retire at 55 for a few reasons I'm 31 now and have a 30 year mortgage so I'd still have 6 years left. Also no kids yet but plan to so would have to fund their college courses too prob. So what would you do in our circumstances. Rep explained that you are trying to beat inflation. I am really clueless so many people sat avoid avcs but want to be ready for retirement