Make a decision on buying service

Explore the factors involved when buying service and what you should consider. Buying service can potentially increase your future pension.

When you buy service to cover a gap of time, you increase the amount of pensionable service that counts toward your pension. This may increase the amount of your monthly pension payment when you retire. Buying service can also add time to your total contributory service, which is used to determine when you are eligible for an unreduced pension.

Buying service helps you build your pension over the long term. Your pension is a valuable source of retirement income and secure for your lifetime. Deciding to buy service is an individual choice. You may want to seek advice from an independent financial planner.