Plus, how can I start to build a rainy-day fund?
Retirement concerns. Photo: Getty
Q I am a public servant who intends to retire at the age of 67. As I’m a late starter to my public service career, I won’t have the full years of service at retirement. Is it better for me to buy back years in a defined benefit scheme rather than make additional voluntary contributions?
A The core difference between contributing to an additional voluntary contribution (AVC) or purchasing notional service (PNS) lies in the retirement outcome, said David Funcheon, certified financial planner with broker Ask Acorn.