Topping up your pension
Added Years
The current limits will not change. You will not be able to contribute more
than 15% of your salary (including the basic contribution of 1.5% or 3.5%).
However, we will not take into account any contributions you make to
CSAVCS.
You will also not be able to build up more than 40 years service through
the purchase of added years, however we will no longer have to take account
of benefits you have in other pension schemes.
Civil Service Additional Voluntary Contribution Scheme (CSAVCS)
limits
You will no longer be restricted to the current limits. You can increase
your pension savings into your CSAVCS
fund. However, you should remember that any contributions you pay count
towards the Annual Allowance. If the value of your pension savings exceeds
the Annual Allowance you will have to report this to HM Revenue and Customs and pay any extra tax.
CSAVCS lump sum
You will be able to take 25% of your CSAVCS
fund as a lump sum.
Partnership and stakeholder limits
You will be able to increase your contributions. However, if this takes you
over the Annual Allowance, you will have to report this and pay any extra
tax.
Personal pensions
You will be able to pay into a personal pension as well as your Civil
Service pension. You should contact a financial adviser about this.
