Folks,
I've posted before on this but have a new question.
Background -My partner intends to retire at 60. I would like to have the option of retiring at 62, aligning to her retirement date. My normal retirement age is 60 but I can work until 70. I will be short 5 Years roughly.
I'm almost 50 now. I decided to set up an avc fund as I believed the purchase of notional service wasn't available to me.
Today I noticed that there is now an online tool to calculate how many years one could purchase as notional service with an estimate provided on cost.
So my question is two fold:
Am I safe enough in continuing with the avc contributions and then using this fund to purchase notional service?
Will the avc contributions option give me more flexibility e.g if in 5 years I decide I want to work until I'm 65 or even 70, then I can pause or reduce contributions.
Any advice would be most welcome.
I've posted before on this but have a new question.
Background -My partner intends to retire at 60. I would like to have the option of retiring at 62, aligning to her retirement date. My normal retirement age is 60 but I can work until 70. I will be short 5 Years roughly.
I'm almost 50 now. I decided to set up an avc fund as I believed the purchase of notional service wasn't available to me.
Today I noticed that there is now an online tool to calculate how many years one could purchase as notional service with an estimate provided on cost.
So my question is two fold:
Am I safe enough in continuing with the avc contributions and then using this fund to purchase notional service?
Will the avc contributions option give me more flexibility e.g if in 5 years I decide I want to work until I'm 65 or even 70, then I can pause or reduce contributions.
Any advice would be most welcome.