Brother Considering starting AVC, Best advice??

G

gollmacmorna

Guest
My brother is considering starting an AVC with his Local Authority scheme (details below)

With 2 years of service plus a further potential 25 yrs. working life would this be the best option ?

Does anybody have any suggestions for an alternative retirement package?

Without AVC
Projected pension €142 p/week
Old Age contributory €167 p/week
Total €309 p/week
Tax free lump sum €42,409

With AVC
Projected pension € 351 p/week
Old Age contributory €167 p/week
Total €518 p/week

Tax free lump sum €54,721

AVC weekly contribution would be €25.30
(after Tax + PRSI relief)
 
re:'notional service'

If your brother works for a local authority, then he should be entitled to purchase 'notional service', i.e. buy back years.

This is usually a better option than investing in an AVC.
 
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