AVC Question

[GreatDane]

Hi

Im lucky enough to work for a company where I'm entitled to 2/3rds of final salary, in my pension.

My contributions are fixed, at a set percentage of my salary and the pension is guaranteed, so the risk rests with my employer, regarding how the pension fund performs etc.

What I'm wondering is this:

A) Am I entitled to tax relief on the pension contributions, given this is a company fund ?

B) What benifits are there for me, if I pay in AVCs out of a bonus etc ?
(given Im already guaranteed a pension of 2/3rds final salary etc)

Thanks


G>
http://www.rpoints.com/newbie

 

[gordongekko]

A - Yes

B i bet you will find that its is 2/3 of your pensionable salary not 2/3 of your final salary

 

[asdfg]

Also,

It is probably 2/3 of pensionable salary based on 40 years service. (40/60). One year for every year worked up to a maximum of 40 years

This 2/3 probably does not take into account
Profit Share
BIK
Early retirement etc

The revenue requirement is 2/3 of final salary per P60 Balancing Statement
Your work pension of based on max 2/3 of pensionable salary on retirement

Hope this makes sense