SPSPS - AVC's?

C

Coral reef

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Hello all

I'm working in the public sector for the past 10 years (gross salary of €80k) and I am a member of the Single Public Service Pension Scheme. I'm in my early 40's and married with two children. My spouse works in the private sector. We have an affordable mortgage and some savings.

I'm thinking of paying AVC's and I'm wondering if it is advisable through the public sector pension scheme or should I make contributions to a PRSA. I have a PRB as I was a former member of an occupational pension scheme in the private sector. I'm aware of the calculation for the maximum contributions based on age for tax relief purposes and I'm just looking for more information on whether it is advisable to pay AVC's into SPSPS or whether should invest privately as I already have a pension with an investment company .

Thanks so much for any information you can provide.
Best wishes.
 
Any AVCs you make are essentially private money whether you use the employer scheme or an AVC PRSA.

The AVCs are held in a seperate investment and are wholly owned by you.

You might get a better deal on fees if you set up an AVC PRSA.
This would involve a slight bit of extra effort on your part.
 
S class said:
Any AVCs you make are essentially private money whether you use the employer scheme or an AVC PRSA.

The AVCs are held in a seperate investment and are wholly owned by you.

You might get a better deal on fees if you set up an AVC PRSA.
This would involve a slight bit of extra effort on your part.
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Thank you, appreciate the reply.
 
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