Folks,
So, I'm in my late 40s. I won't have 40 years service until I'm 67.
Although I'm happy enough in my job at the moment, I know that can change so I have just got the ball rolling on setting up an AVC for myself so that I can look at retiring at 62.
The tax relief of this is the main plus in my view and it's always good to have choices.
So my question is, if at 62, I am enjoying work as much as I am now and I don't wish to retire what are my options regarding the money that I've put into the AVC?
Do I stop making contributions as I will hopefully have made up the shortfall?
What's the most tax efficient way of drawing down any excess fund?
So, I'm in my late 40s. I won't have 40 years service until I'm 67.
Although I'm happy enough in my job at the moment, I know that can change so I have just got the ball rolling on setting up an AVC for myself so that I can look at retiring at 62.
The tax relief of this is the main plus in my view and it's always good to have choices.
So my question is, if at 62, I am enjoying work as much as I am now and I don't wish to retire what are my options regarding the money that I've put into the AVC?
Do I stop making contributions as I will hopefully have made up the shortfall?
What's the most tax efficient way of drawing down any excess fund?