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AVC Wise and final salary pension

Will contributing to AVC Wise affect the way your final salary pension is calculated? Thanks

Comments

  • Marcon
    Marcon Posts: 12,943 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Combo Breaker
    It sits alongside your main scheme benefits. See https://www.home.avcwise.co.uk/ for more info.
    Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!  
  • cherry76
    cherry76 Posts: 1,032 Forumite
    Part of the Furniture 100 Posts
    A salary sacrifice will reduce earnings and therefore reduce pension benefits paid at retirement. I got this info from the web. Is it worth transferring%? Thanks.
  • OldBeanz
    OldBeanz Posts: 1,422 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 2 October 2023 at 11:27AM
    cherry76 said:
    A salary sacrifice will reduce earnings and therefore reduce pension benefits paid at retirement. I got this info from the web. Is it worth transferring%? Thanks.
    Depends which pension scheme you are part of and assuming your have a pay related defined benefit pension. For example the NHS reduces benefits (as I understand it) while the LGPS does not.
  • cherry76
    cherry76 Posts: 1,032 Forumite
    Part of the Furniture 100 Posts
    Thanks for replying I have it confirmed it does not with LGPS.
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