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.

Buybacks $500 and Under

Buybacks Over $500

  • Lump sum payment via:
    • personal cheque/bank draft*
  • Installment payment via payroll deduction arranged through your employer (according to the number of installments you choose on your Buyback Election)
    Transferring funds from an RRSP/LIRA

*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

Can I Pay For Less Than the Whole Amount?

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).