Question on AVC's

[bitethebullet]

Hi everyone,
I'm in the 40-49 bracket so i can put 25% of my salary into AVC's if i wish. MY DC pension is me paying 4% of my salary and my employer pays 8%.
My question is does the 4 and 8 percentages affect in any way how much AVC's i can contribute? ie does it take away from the 25% ?

 

[Sarenco]

You can contribute 25% of your net relevant earnings to your pension. That includes your current 4% contribution but doesn't include your employer's 8% match.

In other words, you could contribute an additional 21% of your earnings.

 

[Tickle]

You can contribute 25% of your net relevant earnings to your pension. That includes your current 4% contribution but doesn't include your employer's 8% match.

In other words, you could contribute an additional 21% of your earnings.

That is the case in an Occupational Pension Scheme. It's not the case for a PRSA, where the employer contributions would come out of the age-related limits

 

[Sarenco]

That is the case in an Occupational Pension Scheme. It's not the case for a PRSA, where the employer contributions would come out of the age-related limits

I took the phrases "my DC pension" and "AVCs" to mean that the OP was referencing an occupational pension.

Perhaps the OP could clarify?

 

[bitethebullet]

Yes it's an occupational pension