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Final salary scheme- buying back years- advice
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betti911
Posts: 819 Forumite
I started a new job this year with a final salary pension scheme. I am 27. I have the opportunity to buy back 7yrs of payment back into this scheme for an extra 3%(I currently pay 6%) of my earnings- paid until I retire. This would mean I would have effectively paid into the pension since I was 20. This is not done through AVC's but means that you are buying back years of the pension. This loophole closes at the end of this year.
As you can see from my signiture I still have some debt to clear but I am en route to clearing this for next year.Would this be worthwhile? I'm interested to hear any thoughts.
As you can see from my signiture I still have some debt to clear but I am en route to clearing this for next year.Would this be worthwhile? I'm interested to hear any thoughts.
Jan 1st 07 Car loan £4830.46@12% Personal Loan £11,517@8% variable Overdraft £1500 July 2009Halifax-£0Debt free date 14th July 2009 :j
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