Avc advice

Patricia10

Registered User
Messages
1
Teacher started in 03.
Have avc set up but little in it.low risk fund I think . It's with cornmarket
Considering increasing it to 500 per month. I expect to be paying around 300.
Ideally would like to retire after 33 years.
Would like to know is this a good idea and anything to watch out for.
Thanks Pat
 
You don't mention any other financial circumstances so I can't comment on whether or not an AVC is the right choice for you. I'll assume that it is.

With 18 years to go, I'd question whether or not a low risk fund is the correct fit for you. You have the time span to consider a higher-risk choice with the potential for higher returns. Whether or not you have the personal risk tolerance for something higher-risk is unique to you. Ask Cornmarket to explain why the current low-risk fund is the most suitable one for you.

In general, Cornmarket tend to charge a comparatively high rate for their AVCs. Do a search on Askaboutmoney for Cornmarket and you'll see other threads about this. Askk Cornmarket to explain for you what the charges will be if you increase your contribution. Get them to detail all charges: once-off fees, policy fees, allocation rates, bid/offer spreads, annual charges. If you don't understand all the charges, post back here.

Then compare with the charges you can get elsewhere for an AVC PRSA, which is something you can arrange with any Financial Broker and any pension company.

Regards,

Liam
http://ferga.com
 
Back
Top