AVC Advice

Discussion in 'Army Pay, Claims & JPA' started by plant_life, Nov 29, 2006.

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  1. I've just had a pension brief today by the Forces Pensions people. The guy was going on about AVCs. He said you could pay in extra to increase your widows pension, buy extra years to make up your pension if you joined late and a couple of other things. How much do you have to pay in and how long do you need to pay in for for it to be worth while?
    Thanks in advance.
  2. Try the Finance board, PL. More likely to get an answer there.

    I know a little but not enough to proffer good advice!

  3. Hmmm, yes. I wouldn't like to be the one to offer financial advice but I do have a seperate AVC going. It will give me £whatever a month but the main incentive is that is is mainly Life Assurance which is good if you may return via Brize toes up.
  4. AVC's is a dodgy area to ask for advice as it is complex and bad advice can lead to legal suits etc etc. There are several different sorts of AVC's as the guy rightly said to you. Some usually good value, the life cover one for example, but beware of top up type AVC's as there is a legal limit to how much your pension can be and any money paid in "over the top" as it were will be lost.

    I would recommend asking on the finance board for the number of a finacial advisor who is versed in the military pensions system. If they are proper finacial advisors you will have some legal protection if you are given "bad" advice