Purchase of service means paying for periods of employment that have not been counted as service with the Municipal Pension Plan. By purchasing service, you may be able to increase your future pension benefit. However, each person’s circumstances are unique and we offer information and two convenient self-help tools to enable you to find out if purchase of service would be worthwhile for you. Use the Purchase Cost Estimator to estimate the cost to purchase service, and to apply to purchase service if you are eligible. Use the online Pension Estimator in My Account to calculate the potential difference a purchase may make to your pension. More details on purchase of service and instructions for using the Purchase Cost Estimator are linked below. Contact the pension plan if you need assistance.
Pensionfacts
There are a number of Pensionfacts that cover the specifics of purchasing service.
You may want to read those that apply to your purchase.
Purchasing arrears
Purchasing leaves of absence
Purchasing non-contributory service
Reinstating a refund
Purchase Cost Estimator
The Purchase Cost Estimator is an online tool that you can use to estimate how much it will cost to purchase service for a period of time, estimate the increase to your pension, estimate the payback period, and create an application to purchase service. To use the estimator, read the instructions and information, and then complete the fields of the Purchase Cost Estimator.
Instructions and Information
Purchase Cost Estimator
Apply to Purchase Service
If you’ve decided that you want to purchase the service, complete the purchase application using the Purchase Cost Estimator and forward it to your employer, or you can download and print an application form.
If you want to apply to reinstate service for which you previously received a refund, DO NOT use the Purchase of Service application form. Instead, please use the Reinstatement of a Refund form.
You may also want to use the formula to estimate how much your pension will increase if you were to purchase the service, and thereby determine if the purchase is worthwhile.
Print Purchase Application Form
Print Reinstatement of a Refund Form
Formula to Estimate the Pension Increase
