Karen's APC story
Find out about Karen’s views on Additional Pension Contributions (APCs) and how they helped her plan for a better retirement.
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Name: Karen
Age: 61
Occupation: Catering Supervisor
To top up my pension. I am single and wanted to boost my pension to give myself a better quality of life in retirement.
Find out more about topping up your LGPS pension here.
Yes, it helped increase my pension.
I currently work as a catering supervisor in a primary school where I have worked for the last 18 years. I have also worked for Lancashire County Council for 40 years doing different teaching assistant, cleaning and welfare jobs for special schools.
I wanted to pay for APCs as I only work on term–time contracts, which means my pension is less than someone working full time.
I’d say it’s getting 20 per cent tax relief. So, for every £100 I pay into my pension, it only actually costs me £80 with the tax relief. This was a win-win for me and made paying APCs a no brainer.
Don’t think about it. Just do it – sooner rather than later. I wish I had started paying APCs sooner, but it never seemed like the right time. So, I’d say, don’t delay. Even if you start off small, you can always increase them later. The benefits are truly worth it.
I think it’s extremely important. Paying extra contributions will improve your retirement by giving you more disposable income and a better quality of life.
