AVC Question.

[Kinger]

Folks,
I have a company pension (with the company 11 yrs) and I have been contirbuting in that peroid. The company policy is:
EE contributes 5% of salary
ER contributes 7.5% (standard but does increase to 10.8 at times)
I contribute 1000euro/mth gross in AVC.

My question is:
I can contribute 20% for my age - does that include the 5% I already contribute?

Any info will help.
Tks.

 

[LDFerguson]

Yes - you're presumaby in your 30s. The total of your EE 5% plus your AVCs can be up to 20%. Don't forget that this is 20% of your taxable remuneration, which includes overtime, bonuses etc. Your EE 5% might be based on just your basic.

 

[Kinger]

Thanks for the reply. I think the 5% is of all renumeration - I'll need to check.