Is there any update on the LGPS's additional pension contributions (APCs)?

darren72

Triumph13 wrote: »

The one big difference is that it seems you can no longer buy any surviving spouse's pension. This may make it a very bad deal indeed in some cases!

But compared to a private pension (such as a SIPP) still better as you know what you are getting.

Triumph13

The SIPP or private pension has the advantage of being passed on 100% and tax free to a surviving spouse. With the APC you only know exactly what yiu are going to get if you know exactly how long you are going to live.

darren72

Triumph13 wrote: »

The SIPP or private pension has the advantage of being passed on 100% and tax free to a surviving spouse. With the APC you only know exactly what yiu are going to get if you know exactly how long you are going to live.

I don't know too much about SIPP's, but I hadn't realised a SIPP could be passed on to a surviving spouse.

Triumph13

darren72 wrote: »

I don't know too much about SIPP's, but I hadn't realised a SIPP could be passed on to a surviving spouse.

Any crystalised DC pension (ie one you've started to access) can be passed straight to your spouse on death, still inside a pension wrapper. If it is still uncrystalised (ie you haven't touched it yet) and you die before the age of 75 then it can go to anyone - unmarried partner, kids, whatever, outside a pension as completely tax free cash.