Mother-No pension, Father Construction Industry Pension - Options for Retirement?

[construct_06]

Just looking for some advice:

Mother is 52, married, has no pension, was housewife but started working again approx. 15 years ago.

She has recently received her SSIA. She is on the low rate of tax.

Father has a Construction Industry pension (benefits not worth talking about really!) that recently he has began topping up by way of Avc's.


Qustion is should my mother invest her SSIA into a PRSA and avail of the Govt. offer or should/can she invest in my fathers Construction Industry Pension?

I think there is a spouse allowance in this Construction industry pension.

I'd imagine she cannot contribute to my fathers pension. If so would my Dad be better off topping up the pension by further Avcs. Qould this be the best way to provide a decent retirement for either of them if anything happened to the other?

Sorry if im a bit sketchy on the details - i dont know enough about this area.

 

[F. Kruger]

Re: Mother-No pension, Father Construction Industry Pension - Options for Retirement??

There is not a whole amount of 'detail' on the CIF website regarding the pension scheme. There are some colourful claims, though.

Your father should have more information on scheme and what he may be entitled to and what are the spouses pension options are.

Certainly, if your father is not utilising his full allowance on the limits for his age to AVC then it may be more tax efficient (assuming he pays tax at higher rate) to 'add' the SSIA maturity as an AVC.

He could do the AVC outside of the scheme if he wanted to.