I'm in an LGPS and I'd like to contribute an extra £100 per month towards my pension. My goal is to retire as early as possible, though I also want to make sure my husband (who cannot work) will receive as much benefit as possible after I die, especially if I don't live to old age. I also have additional investments as part of my early retirement plan.
I've read up on APCs and AVCs but I can't decide which I need to make. Can anyone help me to understand their respective benefits, please? I probably want a higher monthly payment, but I can see the benefits of a tax-free lump sum at the start.
For a bonus question - I may need to leave this job for health reasons (hence a foggy brain that can't quite grasp what I've read). Would it be worth paying in a lump sum before I do?