Broadly yes, seems like a good idea, assuming that your not carrying any other significant debt, like credit cards or car loans. The downside would be that the money is fairly well locked up until you retire, so you won't have any flexibility to use it for education costs or house upgrades or similar.
Keep a close eye on AVC fees to make sure these are competitive. Most PS unions have deals with AVC providers, but keep them honest by shopping around anyway.