Teachers' Pension, overpay on mortgage or other investments.

[MarinaPunta]

Hi

I am 15 years into teaching full time and I am in the TPS but have not made 'extra' contributions. I don't have any debt, other than joint mortgage. If I want to start putting a couple of hundred pounds away each month, what would be the best way to do it?

Over pay mortgage. Teacher pension will be good enough and I don't think its such a good rate if you add contributions.

Just to add...we are already overpaying slightly anyway and we also have a house mortgage free in Europe. It's more than likely we will move to our other home in Europe when we retire. My husband also has local Government pension. Should we still overpay as much as we can? (sorry to drip feed - I only thought to,add this afterwards).

Speak to AN IFA. You have a lot of variables there!

Have you always worked full time? I set up an AVC to offset the years i had part time. You could do one of those with part of the extra then overpay mortgage with rest.

I have always worked full time - no children - but I started teaching in my early 30s so took a break to go University in my late 20s.

Could you tell me what an AVC is?

Doh...just realised it's voluntary contributions!