P
Phoebe2000
Guest
Hi,
I am employed by a company that has a pension scheme whereby my employer will contribute one fifth of the employee contribution. The pension scheme also allows AVC contributions. It does not distinguish whether the employee contribution is for the "normal" pension contribution or an AVC when computing their contribution and so gives one fifth of the total employee contribution.
My question is - is there anything stopping me from putting my whole contribution as an AVC contribution or is there a minimum % that should be my normal contribution? I asked the company pension adviser and he was very vague - I don't think he knew the answer!
e.g.
employee contribution 100 euro
employer contribution 20 euro
Can all this 120 euro be classed as an AVC or do I need to class a certain percentage as a normal pension contribution?
I am employed by a company that has a pension scheme whereby my employer will contribute one fifth of the employee contribution. The pension scheme also allows AVC contributions. It does not distinguish whether the employee contribution is for the "normal" pension contribution or an AVC when computing their contribution and so gives one fifth of the total employee contribution.
My question is - is there anything stopping me from putting my whole contribution as an AVC contribution or is there a minimum % that should be my normal contribution? I asked the company pension adviser and he was very vague - I don't think he knew the answer!
e.g.
employee contribution 100 euro
employer contribution 20 euro
Can all this 120 euro be classed as an AVC or do I need to class a certain percentage as a normal pension contribution?