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Benefits of service purchases

Purchasing Service

Purchasing Past Service: A Buyer's Guide:
Making your service work for you
What will it cost?
Deadlines
Tax Considerations
Types of Service

Service purchases - also known as buybacks - can enhance your Pensionable Service. When you buy back a leave of absence or some previous eligible service, you add that period of time to your Pensionable Service and the length of your Plan membership. This means you will have an increased pension benefit when the time comes to retire, and it could mean being able to retire sooner on an unreduced pension.

January 2008