Bank of Ireland funds

[CharlieMac]

Some of his years service came before 2004, that's it I suppose?

If he was willing to share more info here he wouldn't have to go back to an advisor to know what scope he has for AVCs. Maybe that advisor has a vested interest in him not making AVCs.

... they don’t appear keen with the CET situation.

What do you mean by this?

He’s concerned about the economic outlook and the possible impact on salaries or pensions.

What's he concerned about exactly? I'm a public servant, what should I be worried about??

 

[ClubMan]

What do you mean by this?

He has been told to hold off doing AVCs as he could end up paying chargeable excess tax.

Chargeable excess tax

This page describes chargeable excess tax

www.revenue.ie

 

[messyleo]

If even after the haircut for CNER and only 32 years service the annual pension is 70k I think whatever route you take will have a comfortable outcome so don't overthink it. You will have more flexibility with normal investments, so this may appeal for lots of reasons. AVCs will allow growth at gross contribution rate.

Have a look at what you need the money for and when imo and decide what your best route is.

 

[January25]

In relation to the outlook we had FEMPI in the no too distant past and a pension levy. The way public money is wastefully abused by government I think there are never 100% guarantees in relation to future wages/pensions. So perhaps it’s best to go back to an adviser re AVCs. However it is difficult not knowing if multipliers or thresholds will change.

 

[Dr Strangelove]

there are never 100% guarantees in relation to future wages/pensions.

I agree. Most public servants are 100% reliable on the capacity of the Irish state to pay their pension.


It’s good to be diversified.