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Pension AVCs for teachers

  • 26-09-2012 7:33pm
    #1
    wingnut
    Registered Users, Registered Users 2 Posts: 1,939 ✭✭✭


    OK so had a call from Cornmarket and he recommended AVCs under the ASTI scheme. I'm 32 and in my fifth year teaching so have some ground to make up in terms of pension.

    Is this the best option? I'd love to hear other teacher's opinions. I've read some of the other options may be better so what is the general consensus?


Comments

  • #2
    byhookorbycrook
    Moderators, Education Moderators, Regional South East Moderators Posts: 12,505 Mod ✭✭✭✭byhookorbycrook


    Wouldn't go near Cornmarket, pushy in the extreme and you'll probably get better offers from other places.


  • #3
    bdoo
    Closed Accounts Posts: 574 ✭✭✭bdoo


    wingnut wrote: »
    OK so had a call from Cornmarket and he recommended AVCs under the ASTI scheme. I'm 32 and in my fifth year teaching so have some ground to make up in terms of pension.

    Is this the best option? I'd love to hear other teacher's opinions. I've read some of the other options may be better so what is the general consensus?

    Tell him to f##k off. They would suck the lifeblood out of you.

    You cant retire on full pension until you are 65 so that leaves you with 38 years service. Get independent advice, those lads don't care what they sell once they get commission.


  • #4
    derb12
    Registered Users, Registered Users 2 Posts: 501 ✭✭✭derb12


    Primetime ran an investigation into Cornmarket pushing AVC products onto teachers a few years ago. It was basically a scam. Many of the teachers in question would have been better off purchasing notional service from the department to bring them up to their full years service at retirement age.
    I would tread very carefully and get independent advice.

    Here's a related thread on askaboutmoney http://www.askaboutmoney.com/showthread.php?t=97041


  • #5
    wingnut
    Registered Users, Registered Users 2 Posts: 1,939 ✭✭✭wingnut


    Thanks for the thread its a bit old though. Can we still do NSPs. Where would I get information on this. Anyone recommend a broker that deals with Teachers via a PM?


  • #6
    evolving_doors
    Closed Accounts Posts: 11,812 ✭✭✭✭evolving_doors


    just came across this crowd in Maynooth from AAM threads (sorry boardsies) (HERE

    I havn't tried them but it appears that they are not linked to any pension providers and offer independent advice, and are geared towards public sector

    Not affiliated in any way etc etc.. (and also havn;t been a customer of theirs yet)


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  • #7
    wingnut
    Registered Users, Registered Users 2 Posts: 1,939 ✭✭✭wingnut


    Thanks - will check them out! Would love get the low down from a teacher - all the unions have vested interests in their own providers.


  • #8
    applepip
    Registered Users Posts: 2 ✭applepip


    I was in your boat....felt bullied and penalised for even contemplating a second opinion :(
    I searched through several companies and the one i found that covered everything i needed to know and more was Irish Pension Solutions....all the teachers i work with have changed over and im delighted :)


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