dangerhere
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Don't forget that while notional service can be purchased up to 40 years service at retirement age (giving 120/80 x final salary lump sum and 40/80 pension), there is now further scope for AVCs to fund additional benefits. Look here:http://www.askaboutmoney.com/showthread.php?t=22099&highlight=avc+prsaCapital1 said:And - because the government is (in effect) administering the pension it would kick the crap out of any deal being run such as the arrangement with Cornmarket which has no guarantees and seems to have a lot of fees built in.
Mr. Kenny asked the Minister for Education and Science the charges or levies a company (details supplied) impose on teachers with respect to the AVC scheme. (26448/03)
ajMinister for Education and Science (Mr. Dempsey):
My Department currently takes a 1% handling fee by way of a deduction from the total contributions of members in respect of all the products operated under the deduction at source arrangements for Cornmarket. The role of my Department is to operate the deduction facility.
The issue of any charges or levies that the company referred to by the Deputy may impose on teachers is a matter between the company, the individual teacher and the relevant teacher union.
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