Hi all,
I'm 33 years old and I have worked in the PS for the last 3 years (permanent)
I currently earn ~€110k
I have not decided if I will stay in the PS long term or go back to the private sector.
I have no other pensions entitlements currently.
I own my own home and have a small mortgage - I currently save approx ~4k per month.
I received a flyer through work with the following text from Irish Pensions and Finance Ltd.
Saving into a Group AVC scheme can boost your retirement benefits while making the mostof the tax relief available. And this year, Irish Pensions & Finance are offering a free Fitbit tothose who join the Group AVC Scheme before
31st of January
€50 p/w saved through your payroll into an AVC will provide you with a retirement fund of:
Years to Retirement / AVC Fund at retirement*
5 years - €11,722
10 years - €24,960
15 years - €40,952
20 years - €58,805
25 years - €78,630
30 years - €100,710
€50 per week saved into your AVC
costs
:
€30 per week from net pay (40% tax payer)
€40 per week from net pay (20% tax payer
*Assumes 3% p/a growth. Unit prices can fall as well as rise
I'm curious how this company makes it's money, does this seem like a good deal?
If you were me would you consider it?
Thanks for any thoughts/advice
I'm 33 years old and I have worked in the PS for the last 3 years (permanent)
I currently earn ~€110k
I have not decided if I will stay in the PS long term or go back to the private sector.
I have no other pensions entitlements currently.
I own my own home and have a small mortgage - I currently save approx ~4k per month.
I received a flyer through work with the following text from Irish Pensions and Finance Ltd.
Saving into a Group AVC scheme can boost your retirement benefits while making the mostof the tax relief available. And this year, Irish Pensions & Finance are offering a free Fitbit tothose who join the Group AVC Scheme before
31st of January
€50 p/w saved through your payroll into an AVC will provide you with a retirement fund of:
Years to Retirement / AVC Fund at retirement*
5 years - €11,722
10 years - €24,960
15 years - €40,952
20 years - €58,805
25 years - €78,630
30 years - €100,710
€50 per week saved into your AVC
costs
:
€30 per week from net pay (40% tax payer)
€40 per week from net pay (20% tax payer
*Assumes 3% p/a growth. Unit prices can fall as well as rise
I'm curious how this company makes it's money, does this seem like a good deal?
If you were me would you consider it?
Thanks for any thoughts/advice