Hi all,
I am a 53yr old teacher and planning on retiring in 4 or 5 years age 57 or 58.
5 years ago I started an AVC with Zurich - I made 2 lump sum payments of 8,000 5 yrs ago - and then 10,000 4 years ago. fund is currently worth 22,500.
I then decided to go the NPS route and signed up to buy back the years that I would be missing at age 60 (approx 11 yrs).
I am currently paying 28% of my gross pay into my pension and can afford to do an AVC of 2% which would bring my pension contributions up to 30%. I will up this to 35% at age 55 - retirement.
I like the simplicity of going the Cornmarket route with deductions from gross salary - Zurich would be a lump sum payment at the end of the year and then making a tax return.
My question is - is this a simple issue of buying a similar good in 2 different shops? Or is it a foolish move not to stick with Zurich? ie.
Any opinions would be most welcome.
Thanks - Sidzer
I am a 53yr old teacher and planning on retiring in 4 or 5 years age 57 or 58.
5 years ago I started an AVC with Zurich - I made 2 lump sum payments of 8,000 5 yrs ago - and then 10,000 4 years ago. fund is currently worth 22,500.
I then decided to go the NPS route and signed up to buy back the years that I would be missing at age 60 (approx 11 yrs).
I am currently paying 28% of my gross pay into my pension and can afford to do an AVC of 2% which would bring my pension contributions up to 30%. I will up this to 35% at age 55 - retirement.
I like the simplicity of going the Cornmarket route with deductions from gross salary - Zurich would be a lump sum payment at the end of the year and then making a tax return.
My question is - is this a simple issue of buying a similar good in 2 different shops? Or is it a foolish move not to stick with Zurich? ie.
Any opinions would be most welcome.
Thanks - Sidzer