AVCs in your 20s & 30s

It’s possible that you haven’t given your pension much consideration at this point, because retirement seems so far way. However, over the last few years changes have occurred to public sector pension entitlements which will affect how much you will receive at retirement.

Here’s what you should know

  • If you joined the Public Sector after 1st January 2013, then you’re a member of the Single Public Service Pension Scheme
  • It’s really important that you understand the difference in entitlements between you and your colleagues who joined the public sector before you
  • The fact is, your pension will be significantly less than theirs

Looking ahead

Can you see yourself working full time for another 45 years? Your current retirement age has now moved to 68, which means that if you plan on retiring before that, you’ll have to consider:

  • Reduced pension benefits  AND
  • Extended years until you receive the state pension.

So what can you do about it?

An AVC might be the answer.

  • It can help you retire early
  • You can stop and start whenever you want
  • You have age on your side. You have a longer period of time to save and make the most of tax relief.

Got more questions?

Warning: The value of your investment may go down as well as up.

Warning: This product may be affected by changes in currency exchange rates.

Warning: If you invest in this product you may lose some or all of the money you invest.

Warning: If you invest in this product you will not have any access to your money until you receive your Superannuation Benefits.