Last minute AVC

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alexcoll

Registered User
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You may be eligible even if you are retiring with full lump sum(i.e. 40 yrs) Revenue rules are slightly more favourable when calculating the amount that you can take taxfree; so check it out in good time before retirement.
E.g. you pay 5000 into AVC a week before you retire; AVC company takes about 500; you claim tax relief on 5000 and get about 2000 back a few weeks later- net gain of 1500 for you. AVC company will calculate the max AVC that you can make.
 
If the AVC company is charging 10% of the contribution, you should shop around for a lower-charging AVC PRSA and get even more benefit.
 
I did a last minute AVC in April. The cost was only €400.00 and I did all the legwork myself. My advice is shop around for the best quotes.
 
Unless it was a charity, why would any company offer an avc facility (last minute or whatever) if there were not some charges to at least cover the costs of putting the facility in place?
 
Has anyone used LA Brokers to set up an AVC ? If so how efficient were they ?
 
Dont forget to claim the PRSI releif back also.. I did a last minute AVC recently and I was not aware of the PRSI refund element. I used Eolas Money Management and they were very helpful. I was charged a set fee of €375 and no commission taken off my AVC. I thought this was good.
 
ShaneS that was the way to go. Up front fee and your money all goes into the pot for your retirement. Unfortunatly PRSI relief stops with the publishing of the Finance Bill this year. Shame really as it was a nice little bonus.
H
 
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