Maximising LGPS before leaving

billy2shots

My wife has been a TA for 5 years enrolled in her LGPS.

She is 42 years old. 

Her pay in that time started at £8k per year and in the past two years has been £12k. 

She also works part time with me earning £700 per month. 

After a lot of consideration, she has decided to leave at Christmas and join me in the family business (22 years operating) full time. 

We have a a decent pot of cash at the moment so her wages are not needed between now and Christmas if they are better served contributing to her pension.

We will not need a lump sum from the LGPS when it becomes available as a deferred pension. 

She would like to maximise future annual pension income as much as possible. 

How best to move forward given the above?

anxiousnow

If she is wanting to pay extra she can do so via AVCs or APCS. 

Paying more :: LGPS (lgpsmember.org) 

billy2shots

anxiousnow said:

If she is wanting to pay extra she can do so via AVCs or APCS. 

Paying more :: LGPS (lgpsmember.org) 

Thanks, I am aware of the above. 

However I was looking for more specific 'which is best' given my wife's circumstances. 

OldBeanz

'which is best' could be construed as advice.
You can buy extra pension which is one option if you want to increase the pension without investment risk.
 AVCs are investment linked so at risk from the stockmarket and frequently used to boost a final cash payout.
The LGPS gives a wealth of information here:
https://www.lgpsmember.org/your-pension/paying-in/paying-more/
One thing to remember is as the LGPS is a net pay arrangement then the limit for tax relief is that of tax paid.