Deferred Local Government Pension

Daibachysoldiwr

I hadn't thought about AVC's, they're really helpful suggestions thank you.

Sarahspangles

As Silvertabby says it does sound like you qualify for R85, now or soon. It doesn’t make sense not to draw it, paying 40% tax on some of it still leaves you with 60%+. 

You could open a SIPP as an alternative to AVCs.

Dazed_and_C0nfused

Sarahspangles said:

As Silvertabby says it does sound like you qualify for R85, now or soon. It doesn’t make sense not to draw it, paying 40% tax on some of it still leaves you with 60%+. 

You could open a SIPP as an alternative to AVCs.

True but as a current LGPS member the op may be able to lake use of the generous system available to LGPS members where they can take more than 25% of an AVC as a TFLS.

Sarahspangles

Dazed_and_C0nfused said:

Sarahspangles said:

As Silvertabby says it does sound like you qualify for R85, now or soon. It doesn’t make sense not to draw it, paying 40% tax on some of it still leaves you with 60%+. 

You could open a SIPP as an alternative to AVCs.

True but as a current LGPS member the op may be able to lake use of the generous system available to LGPS members where they can take more than 25% of an AVC as a TFLS.

True, but there’s no flexibility, you have to retire. Whereas with a SIPP you can reduce hours progressively pre-retirement and use the SIPP to bridge the shortfall.