I think I have been doing everything right to date with my pension, It is a defined contribution pension which started in my first job (age 21) and has run all the ways to now (aged 44), the current value is 255,853. I pay 5% and the company pays 6%. For any job change the pot has transferred to the new pension and where the company contribution did not I did AVC's to bring it back up to where it should be. Looking at the pension statement it is giving an estimated DC/AVE fund of 563,985 and an estimated DC/AVE pension of 21,829pa at age 65.
My other half does not have a pension but to mitigate this we have rental properties (no mortgage) with a yearly income of 32K, and the plan is to hold on to these and either continue to rent them after retirement or sell to fund it (depending on how things work out).
My question is on AVC's, should I be topping up my pension and if so by how much. What should be the estimated DC/AVE fund goal be.
My other half does not have a pension but to mitigate this we have rental properties (no mortgage) with a yearly income of 32K, and the plan is to hold on to these and either continue to rent them after retirement or sell to fund it (depending on how things work out).
My question is on AVC's, should I be topping up my pension and if so by how much. What should be the estimated DC/AVE fund goal be.