Teachers Pension Faster Accrual vs AVC with prudential

Sonny51

Hello,
I want to top up my teacher pension but am finding it difficult to understand what the best options are.
Is it better to go with the TP faster accrual or to set up AVC with the prudential?

Any advice will be very much appreciated.

Thanks

dunstonh

Is it better to go with the TP faster accrual or to set up AVC with the prudential?

It depends on your objectives (you should also consider LISA, S&S ISA, SIPP, PPP & SHP as options as well)

What age are you looking to retire?  How old are you?  Will you be after capital and income or just income or just capital in retirement?  Are you looking at a legacy for your spouse/partner then children?   How is your health and your estimated life expectency?

zagubov

Don't know which of the three systems you're in (E+W, Sc, NI), how old you are, what age you'd like to retire?

tigerspill

Sonny51 said:

Hello,
I want to top up my teacher pension but am finding it difficult to understand what the best options are.
Is it better to go with the TP faster accrual or to set up AVC with the prudential?

Any advice will be very much appreciated.

Thanks

I looked at this for my wife.  We chose to go the DC route but no with the Prudential.  They were too expensive and inflexible so she opened a SIPP with HL (we wanted cash and HL dont charge for holding cash).  There are no advantages of using the Pro as teachers dont benefit from Salary Sacrifice

bellaboo86

What about a bit of both. You can buy additional years pension (not Faster Accrual). A year’s worth costs about &2400 depending on age and you can spread the cost of it out. I’m paying £20 a month for an extra years pension. This will take 8 years to purchase but you can do this over a shorter term.