Purchase of Notional service : National School Teachers

[dangerhere]

Anyone have any practical knowledge of this scheme where it applies to national school teachers. Am paying inot an AVC with Cornmarket which is hugely expensive in terms of charges and up front fees.

 

[ajapale]

Re: Purchase of Notional service

Hi Dangerhere,

Search this forum for AVC, teacher and cornmarket and you will get some (not a lot) of hits.

I think it is worth your while speaking to your trade union but be very wary if they try to sell you product.

I think it is also worth your while speaking to the HR section in the department of education which deals with notional service.

In fairness to Cornmarket they do profess to understanding the complexities of teachers' superannuation schemes including notional service.

As with all posts here in AAM you should seek independent, professional advice especially in relation to taxation and pensions .

aj

 

[oysterman]

Re: Purchase of Notional service

http://www.askaboutmoney.com/showthread.php?t=29058
is worth having a look at.

I've no recollection in a few years on the site of seeing a serious argument in favour of AVCs versus any of the public service superannuation notional service schemes.

Cornmarket have behaved disgracefully over the years in terms of the one-sided self-serving advice they have offered to teachers and nurses regarding notional service. I am convinced that there are grounds for somebody having a good chance of sustaining a mis-selling case against them on AVCs.

Plus, as you've identified, their charges are astronomical.