Hello.
I am a first time poster. Any help at all would be greatly appreciated here. I am looking to max out my AVC and possibly change it if that would be better for me in the long term. I am a primary school teacher aged 29.
I currently have an ‘Adventurous’ AVC that I took out with Cornmarket (Irish Life). I have paid the consultation fee (€595) already. My first year contributing to the AVC was 2023. I have been contributing at 2.87% (50ish euro), taken from my paycheque fortnightly. In total, I have €1,112.90 AVC at the moment.
Fees for Cornmarket AVC (Irish Life) are as follows: 0% regular contribution charge, and a tiered AMC starting at 1% dropping by 0.25% on any amount in the AVC between €40,000 and €140,000 and by a further 0.25% on any amount greater than €140,000.
I am on pay scale 5, my salary is €48,495 but I will be going up to pay scale 6, €49,946 from September (I also do a couple of weeks of July/summer provision ever summer around 1600 extra).
My queries:
I am a first time poster. Any help at all would be greatly appreciated here. I am looking to max out my AVC and possibly change it if that would be better for me in the long term. I am a primary school teacher aged 29.
I currently have an ‘Adventurous’ AVC that I took out with Cornmarket (Irish Life). I have paid the consultation fee (€595) already. My first year contributing to the AVC was 2023. I have been contributing at 2.87% (50ish euro), taken from my paycheque fortnightly. In total, I have €1,112.90 AVC at the moment.
Fees for Cornmarket AVC (Irish Life) are as follows: 0% regular contribution charge, and a tiered AMC starting at 1% dropping by 0.25% on any amount in the AVC between €40,000 and €140,000 and by a further 0.25% on any amount greater than €140,000.
I am on pay scale 5, my salary is €48,495 but I will be going up to pay scale 6, €49,946 from September (I also do a couple of weeks of July/summer provision ever summer around 1600 extra).
My queries:
- I would like to max out my AVC contributions (15% is max for 20-30 years old). How do I know how much (what percentage) to contribute? I have my most recent payslip attached. I presume some employer contributions are included so I would be calculating without that?
- As my AVC is with Cornmarket, how would I move what I have contributed to Irish Life (Cornmarket) to an execution only Zurich AVC?
- Which Zurich AVC should I be looking at for execution only? I like taking risks. I saw that LA Brokers has good options and PRSA.ie. Any preference from these?
- If possible, I would like to max out 2023 also, as well as the current year? I am unsure how to do this for 2023. If anybody has guidance on that it would be great. I have my final pay cheque of 2023 attached. My AVC contributions for 2023 were €491.54.
