Hi Sunnygirl69,
I posted about the cost of notional purchase on another thread a couple of weeks back, I've yet to get a response.
Similarly, the 'Cost of approx €22 for every extra €1 in pension', is what I have been advised too.
Its next to impossible to get any sort of advice on this scheme/purchase options from anywhere, I contacted the Union a year ago and got virtually no response.
I have an AVC set-up and am considering just continuing with it, and not bothering with the single purchase scheme top up.
My father was public servant a long time ago did a week purchase of years, and is encouraging me to buy the notional service etc, as it was worth it in the end he says, but this appears to be a new product by comparison.
Amazed that the unions haven't pushed for better terms on this for us, especially given how many public servants have been recruited since 2013.
Is the lump sum payment better than the referable amounts?
If somone retired early/cost neutral etc, would the extra contributions come in to play? I'm just trying to find some positives about this scheme and purchase option...