TPS and additional voluntary contributions

[utterlyfedup2]

Does anyone have AVCs set up via the TPS/Pru?

Just wondering if it's worth it over a regular savings account/ISA?

Hi.
I started paying AVC's many years ago and it helped me to retire early so from that point I would recommend it.
The AVCs are a separate Pru product to your Teachers Pension.(TP is still one of the best pensions around so dont opt out of that)
However my financial adviser says there are now newer pension products on the market instead of AVCs where the funds earn more and what you can do with the new funds is more flexible.
So I guess I am saying its a good idea to put extra aside if you can afford a long term investment but you need to get some reliable current advice on the modern products out there from a good Financial Adviser to find what suits your needs.
One extra note -dont be coaxed into looking at just Wesleyan products because they are linked with the unions and teaching. Their people give advice but its all linked to their products .. My FA said my Wesleyan Isa was a very poor performer and he proved that when he transferred the account to something that outperformed it from the start- so just be aware.
Remember too that whatever you decide as a savings plan, the interest will be taxed when you draw it as income, so you never have as much as you think!

Thank you, that's all super helpful!