Should i start paying into AVC

Discussion in 'Public sector pensions' started by bobster, Sep 2, 2009.

  1. bobster

    bobster Guest

    I am currently working in the public sector and will have 37 years pension paid for on retirement although im in the process of buying back the 3 notional years from my employer . My question really is should i also set up an avc fund or is the notional enough. Any feedback would be great as to the advantages or disadvantages of doing so. Thanks in advance

  2. Evening

    Evening Frequent Poster

    you are buying 3 years notional service which will give you 40 years service i.e. the maximum for pension entitlements. You therefore will be receiving a pension of half your final salary at retirement. If you don't believe you can live on half your salary then maybe you should look at AVCs, but it is up to you. I personally would be looking at eradicating debts (if any) before retirement, if I had spare cash.

    You should talk to your HR department or Union to provide you with a list of those who provide AVCs within your organisation.
  3. Tentman

    Tentman Frequent Poster

    +1. An AVC is a very possible waste of money for you in your position service-wise.