It sounds as if you have adequate pension funds.
You face a big increase in expenditure
- Your repayments will rise when your fixed rate ends
- Your kids will have education fees
For that reason, I think that paying down the mortgage is more important.
In 5 years, when your kids start third level education, your repayments will be lower if you knock €60k off your mortgage between now and then.
If you put it into your pension fund, you won't be able to access it for another 10 years after that, which won't be much good to you.
In fact, I would divert the wife's AVCs to the mortgage as well.
When the mortgage is much lower and the kids are no longer expensive, you can up your pension contributions.
Brendan