Making payments to the Civil Service Additional Voluntary Contribution (CSAVC) Scheme helps to build up a sum of money in a tax-efficient way, to help support you financially in retirement, in addition to that provided by your employer’s pension scheme.
Pensions are a long-term investment. The retirement benefits you receive from your pension plan will depend on a number of factors including the value of your plan when you decide to take your benefits which isn't guaranteed, and can go down as well as up. The value of your plan could fall below the amount(s) paid in.
Our retirement planning section is dedicated to helping people nearing retirement to understand the new pension options that came into effect in April 2015.