Can AVCs be made to make up for the 50% shortfall in widows pension for public sector workers ?

[bstop]

Is this possible ?
What are the options for using the AVCs after retirement ?
Can the AVCs be used to purchase an Annuity or and ARF ?

 

[Steven Barrett]

As per the load of previous posts about this and the arguments you have had. The spouses's pension that is paid when death is post retirement can be funded for. The death in service benefit which pays out on death while still an employee can't.

 

[Dave Vanian]

Can the AVCs be used to purchase an Annuity or and ARF ?

Yes, provided that the AVCs don't cause you to be overfunded at retirement when looking at the combination of main scheme benefits plus AVCs. As has been said in other threads, the likelihood of overfunding is quite small.

 

[bstop]

Thanks guys that is all very clear.
Maybe one of you could clarify what are the options for the AVCs if the employee dies before retirement ?

 

[Steven Barrett]

Thanks guys that is all very clear.
Maybe one of you could clarify what are the options for the AVCs if the worker dies before retirement ?

The value of them goes to the estate as a lump sum. This is as per all occupational pension schemes.


Steven
www.bluewaterfp.ie

 

[bstop]

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