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Personal pension or AVC - Please Help
lmcg
Posts: 13 Forumite
:-/I am 32 and work part-time. I am in the Local Government Pension Scheme. I just got my pension benefit statment and it has frightened me! At the moment I would only get 3,396 per year.
Should I take advantage of AVC or should I take out a with profits personal plan?
I am not sure but I think the company pension is final salary, if that makes any differance. PLEASE HELP before it is too late.
Lisa McGlinchey
Should I take advantage of AVC or should I take out a with profits personal plan?
I am not sure but I think the company pension is final salary, if that makes any differance. PLEASE HELP before it is too late.
Lisa McGlinchey
0
Comments
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Your options are likely to be:
1 - added years
2 - additional voluntary contributions.
3 - free standing additional contributions
4 - stakeholder or personal pension plan
Thats not in any order but added years can often turn out to be the best option but it isnt always, depending on what you expect your career path to be.
Ignore fund selection for now as it will probably be irrelevant. There are some threads on the Govt pension schemes a few months back which would make good reading for you.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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