There are many ways to pay for the service you might wish to purchase. If you are an active employee, your payment options are based on the amount of your buyback. If you have left your employer, please see the Buyback Proposal for your payment options.
You can also find any active buyback proposals that are available for purchase by logging in to Your Pension Profile at the top right corner of this website and selecting Buyback Purchase from the drop-down menu.
To learn more about buying a leave of absence, you can read Buying Service or Leaves of Absences.
Checkout our easy online process where you can make your election, choose your payment option, and upload any required forms quickly and easily.
The following table provides the payment options that are available if you make your election online through Your Pension Profile.
Buybacks $750 and Under | Buybacks Over $750 |
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If you prefer the paper process, you will need to complete the Buyback Election form included in your Buyback Proposal package.
The following table provides the payment options that are available if you send in a paper election:
Buybacks $750 and Under | Buybacks Over $750 |
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You may have a set amount of money you want to pay towards your buyback, or perhaps your finances change before you are finished paying, and you decide you no longer wish to make payments. You can pay for a portion of the service you wish to buy instead of the full amount. This is sometimes called prorating your service.
For example, if the cost of buying one year of service was $10,000 and you decided to stop making payments after paying $5,000, you would receive credit for about half a year's service (before any interest charges get factored in).
Interac, e-transfer, online bill payment and credit or debit card payments are not available forms of payment.