AVCs vs APCs

fiona_waterhouse

Just a quick throw it out there - AVC or APC? - I have 10 years to statutory retirement ( would like to go early, but probably not able ). I have a small AVC going with my current LGPS CARE pension ( been in since 1996), and trying to decide whether just to increase that, or go for APC which will tie up my money until my statutory retirement age. I will be looking to reduce hours, maybe via flexible retirement when I am 60, 4 years time. Any thoughts gratefully received.

AlanP_2

The LGPS AVC is linked to taking your main scheme pension if you want to take it tax free.

Haven't looked in great detail at APCs as we decided AVCs were better for our situation.

Have you worked out in your own mind what you want from your AVC / APC? Is it a higher monthly pension or a larger lump sum? What is your target household income for the point at which you need to be accessing pension money and are you on track for that?

MPD

APCs do not have any inheritable element in case that is important to you.