How Can I Pay for My Buyback?

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.

Log in to Your Pension Profile at LAPP.ca and use the drop-down menu beside your name at the top right to find the Buyback Purchase page to get started.
You are not required to send a copy of your Buyback Election form to LAPP or employer if you choose the online option.

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
Lump-sum to LAPP: personal cheque or bank draft* RRSP or LIRA Transfer	Installment payments: payroll deduction Lump sum to LAPP: personal cheque or bank draft* RRSP or LIRA Transfer

If you prefer the paper process, you will need to complete the Buyback Election form included in your Buyback Proposal package.

Send one copy of your completed Buyback Election form to your employer (if actively employed), and
Send one copy to LAPP along with any required forms and/or your cheque/bank draft, if applicable.

The following table provides the payment options that are available if you send in a paper election:

Buybacks $750 and Under	Buybacks Over $750
Lump-sum through your employer Lump-sum to LAPP: personal cheque or bank draft* RRSP or LIRA transfer	Installment payments through your employer (pay period and annual): payroll deduction lump-sum through your employer Lump-sum to LAPP: personal cheque or bank draft* RRSP or LIRA transfer

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).

*Paying Via Personal Cheque/Bank Draft

Please make your personal cheque/bank draft payable to: Local Authorities Pension Plan.
Write your full name and LAPP Member ID (located on the bottom right of your Buyback Proposal) on the memo line.
Mail or deliver your cheque/bank draft to the Member Services Centre address on the contact us page.

Transferring Funds From a RRSP/LIRA

Taxes are not withheld on these types of transfers.
Would you like the form to transfer funds from an RRSP or LIRA to LAPP?
- You will need the T2033 Direct Transfer — Canada Revenue Agency (CRA)

Interac, e-transfer, online bill payment and credit or debit card payments are not available forms of payment.