AVCs with full service

Repeat away Conan.

The only calculations I do are my own ones.

Quick tot up

Almost full service PS pension benefits
+Tasty extra tax free lump from AVCs
+Juicy monthly drawdowns from large ARF
+ Qualification for Lion's share of Contributory Pension funded mainly from ARF
S class Prsi
=That was good planning.
 
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Conan is one of the most helpful posters I know and clearly has a deep understanding of public service pension related matters. Conan has helped me and many others in the past and is a valuable member of this community.

Your posts, on the other hand, come across as aggressive gibberish. My overriding sense is that you have no idea what you’re talking about.

“See #71 and use basic maths”

Really? Wow, so helpful.
 
This makes no sense. You seem to think that Revenue limits don’t apply.
 
 
Another great post.

So if I retire at 60 Post 95 A stamp, normal retirement age 60.

do I have to have the AVCs in place to cover the state pension before I retire or can I do it before 66 and the draw down of the state pension.

Typically how much of an AVC would be needed to fund the AVC 260k.

Also my pension is such that I am a high rate tax payer and I will be paying high rate on the pension the AVC will purchase as I woukd be paying 40% on the additional pension and getting tax relief at 40% on the way in.
 
Another great post.

So if I retire at 60 do I have to have the AVCs in place to cover the state pension before I retire or can I do it before 66 and the draw down of the state pension.

Typically how much of an AVC would be needed to fund the AVC 260k.

Also my pension is such that I am a high rate tax payer and I will be paying high rate on the pension the AVC will purchase as I woukd be paying 40% on the additional pension and getting tax relief at 40% on the way
 
You can only make AVCs before you cease employment.
So they need to be in place before you retire.
 
Hi Conan
Thanks for your very helpful contributions
I stopped funding my AVC in 2010 but it has performed extraordinary well .
As I hope to retire at 60 with 37 years service (including added years) it seems that I have unwittingly overfunded.The trustees have never been in contact only to suggest moving tge fund initially to a lifestyle fund.
I do not have an integrated pension so I assume my public service pension is reduced to stay within allowable limits .
Is the reduction based on annuity rates prevailing at time of retirement ?
Thanks
 
The original advisor/sales person had difficulty understanding my issue .
His recently appointed replacement is to check with HQ .
 
GSheehy said:
Did you actually get confirmation from New Ireland that this was the case? If you did, what are the full details and what did the advisor (or New Ireland) suggest you do?
Click to expand...
Why do you say New Ireland ?
 
Comeby said:
I will have 38 years service at 60 (including professional added years ) and invested in a New Ireland AVC during 2006-09
Click to expand...

This dates back to last December. It's clear from your replies that the advisors are incapable of doing a max funding quote to factually establish that you are/might be overfunded so they're just going to pass it on to New Ireland anyway.

You'd probably be faster if you had a stab at it yourself, if you had all the (accurate) information that's needed on the inputs for a tool like this


Gerard

www.prsa.ie
 
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