New Posts For Thread: AVC pensionhttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pensionDoes anyone know anything about AVC pension contributions?My question is about tax I know there is some tax relief with an AVC, I already do pay about £250 per month but when I turn 55 I am looking to increase this amount, so the question isIf I curI 23 years in what started out as the old GPO pension I was one of the last to get in when I started in 86 but unfortunately they merged the scheme with the new one they started a few months later, this pension ran until 2008 when it was capped and yhttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558155205#558155205I 23 years in what started out as the old GPO pension I was one of the last to get in when I started in 86 but unfortunately they merged the scheme with the new one they started a few months later, this pension ran until 2008 when it was capped and yThu, 17 Oct 2019 12:40:39 -0500Whatever you pay into your pension is free of tax. If you pay 40% tax on some of your earnings, you 40% tax relief on that part of your salary which is taxed at 40%. You may save up to 40K each year into your pension(s). Don't forget that your pensiohttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558155141#558155141Whatever you pay into your pension is free of tax. If you pay 40% tax on some of your earnings, you 40% tax relief on that part of your salary which is taxed at 40%. You may save up to 40K each year into your pension(s). Don't forget that your pensioThu, 17 Oct 2019 12:28:23 -0500Is it a Final salary schemehttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558155011#558155011Is it a Final salary schemeThu, 17 Oct 2019 12:02:01 -0500your union may have a pension advisor too.worth a phone callhttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558153787#558153787your union may have a pension advisor too.worth a phone callThu, 17 Oct 2019 09:30:33 -0500You probably need to get advice macaronyThe Royal Mail Pension Scheme I believe is one of the better onesHow many years have you worked?That is really importanthttps://www.royalmailpensionplan.co.uk/The first thing they ask is if you joined before 19https://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558153519#558153519You probably need to get advice macaronyThe Royal Mail Pension Scheme I believe is one of the better onesHow many years have you worked?That is really importanthttps://www.royalmailpensionplan.co.uk/The first thing they ask is if you joined before 19Thu, 17 Oct 2019 08:52:52 -0500After 2006 the company is the Royal mail and there as been quite a few changes over the years so asking people who I work with can be difficult my normal pension is now split into three that has really hurt the overall value of my pension so I decidehttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558153129#558153129After 2006 the company is the Royal mail and there as been quite a few changes over the years so asking people who I work with can be difficult my normal pension is now split into three that has really hurt the overall value of my pension so I decideThu, 17 Oct 2019 08:11:13 -0500I think an AVC is a Defines Benefit Scheme so therefore you can almost put in what you like.Just to clarify is it a Company AVC?If so do they match your contributions?Is it an FS ( Free Standing ) AVC ( PP ) ( Personal Pension? )Company AVC's get tahttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558153049#558153049I think an AVC is a Defines Benefit Scheme so therefore you can almost put in what you like.Just to clarify is it a Company AVC?If so do they match your contributions?Is it an FS ( Free Standing ) AVC ( PP ) ( Personal Pension? )Company AVC's get taThu, 17 Oct 2019 08:00:20 -0500somebody at work should be able to tell you what you pay, what your pension may pay out, if additional payments are allowed, and if so how much.pensionwise is a good tip. they will give you advice.if your avc wont take as much as you want to put in yhttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558152971#558152971somebody at work should be able to tell you what you pay, what your pension may pay out, if additional payments are allowed, and if so how much.pensionwise is a good tip. they will give you advice.if your avc wont take as much as you want to put in yThu, 17 Oct 2019 07:52:51 -0500Only personal experience I have is that when I got to my retirement date I was pleasantly surprised with my AVC situationhttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558152937#558152937Only personal experience I have is that when I got to my retirement date I was pleasantly surprised with my AVC situationThu, 17 Oct 2019 07:46:39 -0500I was hoping someone has got some personal experience of saving this amount of money? I save about £250 pm now but its hard to tell how much exactly I am down omy monthly wages it gets lost in amoung everything elsehttps://community.betfair.com/chit_chat/go/thread/view/94038/31590353/avc-pension?post_id=558152893#558152893I was hoping someone has got some personal experience of saving this amount of money? I save about £250 pm now but its hard to tell how much exactly I am down omy monthly wages it gets lost in amoung everything elseThu, 17 Oct 2019 07:38:21 -0500