Cornmarket Financial Planning Insurance Select your Union/Group About Us MyCornmarket Contact us About Us Is an AVC for me? The investment you might really need! AVCS Is an AVC for me? The investment you might really need! Share Additional Voluntary Contributions or AVCs. You’ve heard of them, your colleague has one, but have you asked yourself – is an AVC for me? We’re here to show you that an AVC might be the investment you really need! So why do I need an AVC? There’s a lot of confusion about money and the Public Sector. You’ve probably heard your Private Sector friends say ‘sure you’re sorted for life!’ What’s often missed is, even if you work the full 40 years, your pension will be half of your salary - at most. With early retirement and career breaks, the reality is that you often end up with a lot less than what you need. Like most of us, you could fall into one or more of the following scenarios: 1. You need to have extra money to enjoy your free life in retirement 2. You want to stop working as soon as possible and retire early 3. Your career means you have to retire before the state pension age of 66-68* 4. You started your career late 5. You can’t survive financially on half of your salary If you do fall into one or more of these scenarios, investing in an AVC could be a great fix! Can I afford it? You can start your AVC from as little as €1 a day!** On top of that, an AVC is designed to work through life’s ups and downs. You can stop your AVC if you’re saving for your new home, or increase your contribution amount when you are due an increment. Increase, decrease, stop and restart whenever you need to! So why invest in an AVC and not just save? Bank accounts and savings accounts aren’t always the best option if you need to save for your future. This is because deposit interest is at an all-time low of 0% and inflation can eat away at your money. The Tax Saver incentives with AVCs are unreal! For every €50 you invest into your AVC you will receive €20 in tax relief – this means it only costs you €30!** Your AVC fund growth is tax free – other saving methods can be taxed and can chip away at the money you make With an AVC, you can maximise the tax free lump sum amount available to you at retirement*** What do people really get out of their Investment? In 2018, over 1,500 Cornmarket members settled their AVC at retirement**** and below is an average of what they got: With tax relief and investment growth our clients more than doubled the net amount they invested. With returns like these, an AVC might be the investment you really need! Share Have more questions about AVCs? Call us on (01) 420 6779 Call me back *Right now the pension age is 66, from 2028, the State Pension age will increase to 68, Source: pensionsauthority.ie **This is based on an income tax of 40%. The minimum premium per month is €50 when tax relief is included. This averages at a cost of €0.98 per day to those currently paying income tax at 40%. If you are paying income tax at 20%, the average cost per day is €1.31. ***Subject to Revenue limits ****Source: Cornmarket, April 2019. Figures have been rounded to the nearest thousand and are based on 1520 Cornmarket clients from five AVC Schemes. Read more about AVC's AVCS MythBusters: What do AVCs actually do? In a nutshell – they boost the money you will have in retirement! By now you’ve probably overheard someone talk about Additio... Read more AVCS The ABCs of AVCs AVCs are something of a mystery to a lot of people. Rather than diving right in with a heap of information or a detailed FAQ,... Read more AVCS Ask the Experts: The benefits of investing in an AVC If you haven’t done too much research into them, Additional Voluntary Contributions (AVCs) can seem quite confusing. Essentia... Read more Get in touch Sorry we are closed. Request a call back? Email us Call us on (01) 408 4007 Find out more Call me back Get a quote Car insurance quote Home insurance quote Travel insurance quote Useful links About Us FAQs Careers Sitemap Social Disclaimer Website Privacy Statement Terms of Business and Remuneration Document Terms and Conditions Data Privacy Notice Sustainability Disclosure Document Cookie Policy Cornmarket Group Financial Services Ltd. is regulated by the Central Bank of Ireland. A member of the Irish Life Group Ltd. which is part of the Great-West Lifeco Group of companies. Registered Office: Christchurch Square, Dublin 8. Registered In Ireland, Reg No: 36496. Telephone calls may be recorded for quality control and training purposes.