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Potentially moving from LGPS to CS pension - need some advice, please.
Comments
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tfls? I have to admit I'm not overly familiar with AVCs etc. What are the advantages?michaels said:Lgps has advantages with tfls and avcs that CS alpha pension doesn't.0 -
LGPS AVCs are tax relief in, tax free (within HMRC limits) out. CS AVCs, if taken as cash, are limited to 25% tax free.hazel_davey said:
tfls? I have to admit I'm not overly familiar with AVCs etc. What are the advantages?michaels said:Lgps has advantages with tfls and avcs that CS alpha pension doesn't.1 -
TFLS - tax free lump sum,hazel_davey said:
tfls? I have to admit I'm not overly familiar with AVCs etc. What are the advantages?michaels said:Lgps has advantages with tfls and avcs that CS alpha pension doesn't.
AVC - Additional voluntary contributions, a money purchase pension that runs along side the company pension
With the LGPS you can take all of the tax free lump sum from the AVC rather than having to give up pension at the appalling rate of £12 lump sum for £1 of annual pension1
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