Your AVCs will be invested in a fund with Legal & General. The value of your CSAVCS pension will depend on how much money you invest in your fund and how well it performs.
Benefits at retirement may be provided as either an income and/or lump sum payments.
Further information about the scheme with Legal & General can be found in the member booklet.
Start an Additional Voluntary Contribution plan
If you have decided that making AVCs is right for you, it is easy to start a plan.
- complete an Additional Voluntary Contribution application form
- send it to your employer who will arrange for your plan to be set up with Legal & General.
Pay for AVCs
Your employer can deduct your AVCs straight from your pay. You will need to apply to make AVCs at least one month before they are due.
You will receive tax relief on your contributions, up to 100% of your taxable earnings.
On 01 September 2018, Civil Service Pensions appointed Legal & General as the CSAVCS provider.
Legal & General will typically invest your AVCs in their Multi-Asset fund, however you can choose to invest your contributions in one of their other available funds.
Whichever fund you invest in, Legal & General will send you a yearly statement of the value of your fund and the contributions you have paid.
As the value of your fund can go down as well as up you should review your investment regularly.
Change Additional Voluntary Contribution amounts
You can increase, decrease or suspend your contributions at any time. To do so:
- complete a Contribution Change Request form and
- return it to your employer.
You may wish to speak to an Independent Financial Adviser (IFA) about your pension plans too. See the Financial Conduct Authority website for tips on finding an adviser.
Money Helper can also provide you with information and guidance, so you can make informed decisions about your pension and retirement planning.
If you were contributing to the Civil Service Additional Voluntary Contribution Scheme before 01 June 2018
Before 01 June 2018, Civil Service Pensions members could choose to invest their AVCs with one of the following providers:
- Equitable Life
- Scottish Widows
- Standard Life
From 01 September 2018, all AVCs made to the CSAVCS were redirected to Legal & General, with the exception of members who had a ‘with profit plan’ with Equitable Life.
If you began making AVCs to the CSAVCS before 01 June 2018, you’ll need to contact your AVC plan provider directly about your plan. If you hold a policy with Equitable Life, please contact us.
You can find the contact details for the old providers on the Contact us page.