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avc or buy back pension years

kingkev100 · 2010-02-09 19:57:25

i am wondering if i am better off starting up avc's or buying back 3 years that i previously worked but did not pay a pension for. I have been a teacher for 7 years now but only began a pension in the last 4. I have been told to buy back the first 3 years ( i was privately paid then by the school and not the dept so didnt…

09-02-2010 7:57pm

#1

kingkev100

Registered Users, Registered Users 2 Posts: 48 ✭

Join Date: March 2008

Posts: 32

i am wondering if i am better off starting up avc's or buying back 3 years that i previously worked but did not pay a pension for.
I have been a teacher for 7 years now but only began a pension in the last 4.
I have been told to buy back the first 3 years ( i was privately paid then by the school and not the dept so didnt have to enter into a state pension scheme!) but this could cost me approx 10k.
I could instead pay avc's to balance out the missing 3 years as an alternative?? is this advisable as i do not have 10k to pay as a lump sum right now. i can however pay 200p month in avc's instead!
what is the best advice???
kevin

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Comments

#2 11-02-2010 12:39pm

[Deleted User]
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Have a read through this . It may be what you're looking for.

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