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Podcast #59: “Tell Her To Shove Her AVCs….” [ AVCs – The Facts!]

informed decisions blog

Podcast #59: “Tell Her To Shove Her AVCs….” [ AVCs – The Facts!]

23rd October 2017

Paddy Delaney


Two lads were standing at the bar of a Friday night in October….their kids put to bed, they gather for their monthly ‘Fischers Friday’ in their local pub!

Lad #1: “Hey, they’re telling me I should do this AVC pension in work”
Lad #2: “Whats an AVC?? Sure do you not have a pension already in work?”
Lad #1: “Eh, yeah I do yeah but yer one said I should set up this other one to give me more of a lump sum in 20 years!”
Lad #2: “Sure jaysus you could be dead in 2, whats the point in doing an ABC or AVC or whatever it’s called?!”
Lad #1: “Yeah but she said that if I don’t do it i’ll miss out on a load of tax reliefs or somethin”
Lad #2: “Tax relief me eye, sure if you put it all into the ABC thing you’d not be able to afford these pints your about to buy!”
Lad #1: “Ha! But yer right, sure yer one was only trying to sell me stuff I suppose”
Lad #2: “Damn right she was, them ones are all the same, pushy pushy, only interested in themselves, ya may tell her to shove her ABCs!”

This wasn’t our attempt at a Roddy Doyle sketch, moreso our interpretation of what we believe probably crosses people’s minds when they are invited to look at AVCs! They might not verbalise it but they probably think it…..and to a degree they wouldn’t be totally wrong!

This week we were contacted by one of the national papers for our comments on AVCs; the pros and cons as it were. We gladly gave our views, and though it wasn’t on the agenda this week we decided to do a piece on AVCs…….it’s over-due in fairness! We are hoping to dig into the ABCs of AVCs a little, keeping it simple and looking at it slightly differently, as we do!

Firstly, and as always, we are chuffed that you have checked out our award winning Irish Financial Planning & Money Management blog & podcast. We are on a mission to make financial planning accessible to Ireland’s  investors and pension holders! We ask for your help to spread the word, share the article with the little icons at the bottom, check out the podcast, and in general just be a huge fan of our little site! Be delighted if you checked out our why.

So how about we look at that wee conversation above and take it line by line, figure out how right or no they are! Before we begin, in order for an AVC to be of any appeal to you, you need to have A) an understanding of what it is B) clarity on how it will benefit you (or not) in the long term & C) the disposable cash to put into it!………………………………………

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