Hi All
I'm in the Single Public Service since 2018 and immediately set up a PRSA AVC with Davy to allow for further contributions. It was an easy decision at the time as there was n pathway to 'buy years' in the SPS at that time. Fast forward to today and the mechanism exists. Now I'm wondering which is the better option. There are definite advantages to adding to the SPS ,e.g. in a recessionary year growth is 0%, never goes into negative but the additional contributions just seem so expensive.
Has anyone done the maths for AVC vs SPS additional contributions? Which way did you decide? For me, I made an injury time contribution at the end of October to my Davy PRSA AVCs up to the 20% allowed at my age for 2019 as I just wasn't confident in the SPS calculations.
I'm in the Single Public Service since 2018 and immediately set up a PRSA AVC with Davy to allow for further contributions. It was an easy decision at the time as there was n pathway to 'buy years' in the SPS at that time. Fast forward to today and the mechanism exists. Now I'm wondering which is the better option. There are definite advantages to adding to the SPS ,e.g. in a recessionary year growth is 0%, never goes into negative but the additional contributions just seem so expensive.
Has anyone done the maths for AVC vs SPS additional contributions? Which way did you decide? For me, I made an injury time contribution at the end of October to my Davy PRSA AVCs up to the 20% allowed at my age for 2019 as I just wasn't confident in the SPS calculations.