Understanding the LGPS - Scotland

Recorded 15/02/2024. Please note, the information presented in this webinar was correct at the time of recording. AVC Wise is now trading as My Money Matters. To access your Shared Cost AVC benefit, please visit www.my-money-matters.co.uk. The information and examples presented in this webinar are based on the old National Insurance contribution (NIC) rate for all employed individuals liable to pay National Insurance contributions with earnings over the Class 1 Primary Threshold of £12,570. On 6th April 2024, the primary Class 1 NIC rate dropped from 10% to 8%. We are working on updating the webinars in this playlist. For more information about the NIC rate change, please visit https://www.gov.uk/. My Money Matters has no control or responsibility for the pages you are about to access, or to where any subsequent links may take you. Figures are for illustrative purposes only. The figures shown in this webinar are only estimates based on limited assumptions. They do not include the impact of inflation and are not guaranteed or a personal recommendation. The actual savings will depend on your personal circumstances and investment fund performance, which is invested by your Shared Cost AVC provider.  You should consider your affordability before making or amending your Shared Cost AVC plan. Please speak to an independent financial adviser if you require financial advice. Shared Cost AVCs are available to active LGPS members only. A Shared Cost AVC cannot be accessed until age 55, rising to age 57 from 2028. You will need to consider what investment product is suitable for you.  A Pension is a long-term investment, the fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.  Tax treatment is based on individual circumstances and may be subject to change in the future.   The information presented in this video is based on our current understanding of taxation legislation and regulations at the time of recording. Any levels and bases of, and reliefs from taxation, are subject to change.  Have a question? Get in touch! Email: [email protected] Tel: 01252 959 779 Live chat: www.my-money-matters.co.uk/ © 2024, My Money Matters. All rights reserved.