Re: Advice Please on AVC contributionsl
Chasie,
I was asking similar questions here a week or so ago, although I'm at least 15 years (more likely 20) from retirement. I've also got my AVC with Irish Life, and I can tell you that
a) If, like me, you're with Consensus 8, then you shouldn't be paying any charges. They will have been 'front loaded' in the first few years of your contributions and anything you're putting in now is for you and you alone.
b) As a previous contributor has stated, whatever units your current contributions are buying, they're buying them at a reduced rate, so you should be smiling when the market takes off (hopefully)
c) Although my own pot in the fund stands at only about 1700 euro ahead of my contributions, I have been told (NOT by Irish Life, but by an independent professional in the field) that at this point in the cycle, that's nothing to be unduly worried about, bearing in mind (which I had failed to do) that your tax and PRSI relief means that whatever contributions Irish Life may have received in your name, you have only put in 53% yourself; the rest is tax relief which, h