Buy Extra Pension |
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Why use the extra pension option?
Use this option if you want to boost your pension benefits at retirement. You must be in the main section of the Scheme to increase your
benefits in this way. This option is not available if you are in the 50/50 section of the scheme.
You can choose to buy extra pension by spreading payment over a number of complete years (unless you are within 1 year of your Normal Pension
Age) or by making a one-off payment. Your employer can choose to contribute towards the cost of the extra pension. If this is the case
you must obtain written confirmation of the share that they have agreed to pay before making your application to buy APCs.
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Buy Lost Pension |
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Why use the lost pension option?
If you are absent from work with your employer's permission (except for reasons of sickness or injury) for a period of more than 30 days, the whole period will not count towards your pension. You can use this option if you wish to buy back the pension that you have lost during this time. You can do this regardless of whether you are in the main or 50/50 section of the Scheme. Please note, if you are absent from work for 30 days or less, your employer will automatically deduct the pension contributions for this period so you will not have any lost pension to buy back.
You can choose to buy the lost pension by spreading payment over a number of complete years (unless you are within 1 year of your Normal
Pension Age) or by making a one-off payment. If you elect to cover the break within 30 days of returning to work your employer will meet
two thirds of the cost, unless the absence is due to industrial action.
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