Make a payment

Find out your payment options and how to pay through online banking or transfer from an existing RRSP or locked-in retirement vehicle.


Once your application is processed, you’ll receive a Statement of Cost. If you’re registered for My Account, you’ll get an email when your statement is available in Message Centre. If not, your statement will be mailed to you.

If you choose to buy the service, you must pay the full amount by the due date on your statement.

How you can pay

You can pay using one or a combination of the following:

  • Online banking from your personal bank account
  • Cheque, money order or bank draft
  • Transfer from an existing RRSP, locked-in retirement account (LIRA) or life income fund (LIF) in your name

Pay through online banking

You can pay through most major Canadian financial institutions.

To send your payment:

  1. Sign in to your online banking
  2. Add BC Pension Corporation as a payee
  3. Use your Person ID (PID) as the account number
    • Find your PID on your Statement of Cost

If you need help making your payment through online banking, contact your financial institution.

Pay by cheque, money order or bank draft

Make your payment payable to Teachers' Pension Plan.

Pay using funds from RRSP, LIRA, or LIF

Your financial institution must transfer the funds on your behalf. Your Statement of Cost will include the RRSP transfer form they must complete.

  1. Contact your financial institution early to allow enough time to transfer the funds
  2. Provide your financial institution your statement and RRSP transfer form
  3. Ask that no fees are deducted, or your payment will be incomplete

If your financial institution has any questions, they can contact the plan directly.

Payment due date

You are responsible for ensuring the full payment reaches the plan by the due date on your Statement of Cost.

  • If you miss the deadline, you’ll need to reapply and still meet eligibility requirements.
  • If you’re making continuous contributions and miss a payment, you won’t be able to continue payments during your leave. You may be able to buy the service as a lump sum when you return to work.

Taxes

How you pay may affect your RRSP contribution room. You’ll receive a tax receipt if you pay by online banking, cheque, money order or bank draft.


Check your request

Did you know you can now check the status of your service request using Message Centre? You'll find the link on your My Account dashboard.

Sign in or register now