Max AVC contribution

[Hitcher]

How much can we put into the AVC before hitting the NMW limit?

Thanks.

[heapsy]

I'm paying 6%, which matches exactly the basic amount we pay. On top, I'm paying the 1% lump sum booster. I'm within PSE.. i did briefly pay 7% AVCs, for a few weeks, but with the NMW increasing, and still waiting for the pay rise, I dropped it back to 6%. Hope that helps.

[BenacreNick]

I chose £10 per week years ago, and then opted in for the 1% Lump Sum Booster as well, when that was available recently.

[NWpostie]

Before the Flexiplan stopped accepting payments, I was paying £110 a week without dropping out of PSE, I believe you could go up to £125 I choose not to, now I'm currently paying £60 a week into the CDC AVC and opted into the 1% lump sum booster, it's a no brainer.

I would also take out a Stocks & Shares ISA with a ready made portfolio to opt into, research which suits you best, all profits is free of tax, plan for 5 years minimum longer is better for greater returns.

[Hitcher]

I'm P/T and and currently paying £50/week but want to increase that to £75 to boost my lump sum but obviously don't want to hit the limit. If I go over do you see it move to the right side of your payslip?

[milly]

Before the Flexiplan stopped accepting payments, I was paying £110 a week without dropping out of PSE, I believe you could go up to £125 I choose not to, now I'm currently paying £60 a week into the CDC AVC and opted into the 1% lump sum booster, it's a no brainer.

I would also take out a Stocks & Shares ISA with a ready made portfolio to opt into, research which suits you best, all profits is free of tax, plan for 5 years minimum longer is better for greater returns.

Obviously its good to take advantage of the tax incentives with pensions, but I wouldn't recommend anyone under 50 going overboard with pension saving, especially if you want to retire early.
I can only see the government keep increasing the age you can access your own money.
S&S ISA's offer much more flexibility so long as you're not tempted to spend it.