Best Buy Best AVC in the Irish market 2019

T

TestLink

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I work in a local authority and is a member of Forsa. I am looking to join an AVC.

May I know whether the AVC amount is cut before Tax or after Tax?

Would joining an AVc reduce the tax I pay and save money?

Is there any firm that you would suggest? I prefer to buy it directly from a firm like Irish Life etc, rather than going via a broker.

Is there a group policy sceme that you would suggest?

Any suggestions?
 
Basically, all pension conts attract tax relief.

Buying a policy direct from insurer won't save any money.

Discount brokers have lowest fees, but don't provide advice.
 
I have got details from 2 brokers regarding AVC. But I cant figure out which one is the best value for money.

Company A:
Setup Fee: 400
Annual Fee: 1%
Policy Fee: 0
Contribution Charge: 0
Bonus money at retirement: 0

Company B:
Setup Fee: 0
Annual Fee: 7% of annual contribution towards AVC
Policy Fee: 0
Contribution Charge: 0
Bonus money at retirement: 5% of total fund amount
 
Last edited:
TestLink said:
I work in a local authority and is a member of Forsa. I am looking to join an AVC.

May I know whether the AVC amount is cut before Tax or after Tax?

Would joining an AVc reduce the tax I pay and save money?

Is there any firm that you would suggest? I prefer to buy it directly from a firm like Irish Life etc, rather than going via a broker.

Is there a group policy sceme that you would suggest?

Any suggestions?
Click to expand...

There is probably an occupational AVC scheme provided by the union that will facilitate net pay deduction (meaning they will give you the tax relief directly) but if you decide to go with another provider you will have to claim the tax relief back from revenue yourself. Thats no big deal by the way, you provide them evidence of your contributions and evidence from your employer of what pension tax relief you have received during the year.

Fees depend on whether you want advice or not.
 
TestLink said:
I have got details from 2 brokers regarding AVC. But I cant figure out which one is the best value for money.

Company B:
Setup Fee: 0
Annual Fee: 7%
Policy Fee: 0
Contribution Charge: 0
Bonus money at retirement: 5% of total fund amount
Click to expand...

This 7% AMC can't be correct....there is some confusion............
 
TestLink can you put up a link to the two offers. There shouldn't be any secret about them.
 
I doest have an online link for it, but only a hard copy.

Considering the figures I mentioned here, which one is good value for money?
 
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