In the final episode of this series, Rob and Emily chat to Mick Mulligan, Head of Engagement for Civil Service and Royal Mail Pensions in the Cabinet Office, and Emily Wilson, Senior Training Consultant at MyCSP.
There are many common life events that most of us go through at one stage or another - from getting a new job and joining the scheme, to getting a promotion, taking a career break, having children and beyond. While not everyone will experience all of these events, it's important to understand what they might mean for your pension and retirement planning.
Your pension could be one of your largest and most valuable assets, so it's important to factor it into any major career/life decisions you make.
We also discuss options to boost your pension with Added Pension and Civil Service Additional Voluntary Contributions. This might be to make up for lost time if you aren’t able to make any contributions, or if you want to plan in advance to add to your pension. As Mick suggests, working in the civil service and being a member of the scheme gives you the flexibility to have time off with kids or go take a career break and not lose out on what the future might look like.
Emily Wilson reminds listeners to let MyCSP know of any significant personal changes - such as getting married, moving house or getting divorced and if needed, updating your Death Benefit Nomination.