Prudential AVC likely to take LGPS above LTA.

My_perfect_cousin

Due to working longer that planned in Local Government, it now seems likely that an investment in the 'workplace' salary sacrifice Prudential AVC may now be the difference between staying below the LTA and exceeding it. 

I wonder whether anyone has experience of a salary sacrifice AVC taking a pension (LGPS) above the LTA? Or advice as to how to avoid this please.

I'm aware that there are options regarding accessing the (Prudential AVC) and am, wondering whether there are any that would avoid the LTA excess. I've checked and can't see anything that would do so. I ask because we are at a planning stage and have a short period within which to take decisions regarding leaving the LGPS and/or taking whatever action makes sense regarding the AVC.

We are presuming that the chancellor won't raise (or lower) the LTA in the coming budget. Hopefully this is wrong.

many thanks in advance

NoMore

I'm not sure anybody can give you much advice as its all very vague your post with few actual details,

But the LTA is not a hard limit, and being in the position where you have to worry about it is a nice problem to have.

Albermarle

You probably need to give some actual figures to get some good feedback.
As DB pensions are generously treated under LTA rules ( in reality the 20x calculation should be more like 30X) you must be talking about some quite large numbers, in terms of annual pension and AVC.