But are you so sure that buying an annuity from another provider will be as good value as directly from the PS employer?
I thought of that but if I did it that way would I forgo the compounding effect of having all my money in one fund?there's nothing to stop you setting up two separate PRSA AVCs with different policy numbers.
I think you are agonizing endlessly over a problem that does not exist. On the plus side, is that delaying the day of decision? And commitment!
How/why do you think that two separate policies would be worse than one in these respects? The compounding results will surely be the same overall and unless there is some fixed cost to setting up a policy then the charges should also be equivalent? If you don't agree then outline a simple scenario where you think that there's a disadvantage to having two policies maybe?I thought of that but if I did it that way would I forgo the compounding effect of having all my money in one fund?
E.g: 50k in one pot and 50k in a separate pot (policy) won't compound together as well as 100k under one policy? There might be other provider charges I would have to double up on too?
E.g: 50k in one pot and 50k in a separate pot (policy) won't compound together as well as 100k under one policy?
There might be other provider charges I would have to double up on too?
I don't really understand any of that but, as @LDFerguson has also said, the effects of compounding are no different with one or two policies (all other things being equal).I thought I was OK with numbers but I guess not. Working with one pot I can visualise the idea of compounded fund growth: maximised by uninterrupted accumulation of contributions added to the ongoing growth from all those contributions combined. But it feels counter-intuitive to me that, even with all things being equal, you get the same effect by splitting the fund in two. I suppose working in reverse: 1 + 1 cannot be less than 2. I made a spreadsheet to confirm!
S1?I expect that the S41 form as mentioned by publicservice1
The form you'll need to verify teaching service for pensionable purposes is the S1 form, you can google it.
Indeed; its not S41; typo by me there, Club Man.
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