March 31, 2014 is a key date for members considering buying back pensionable service for unpaid LOAs

Up until midnight March 31, members of the Municipal Pension Plan can buy back pensionable service for unpaid LOA's taken in 2013, and the employer will be obligated to pay their share of contributions to your pension plan for the first 20 days (150 hours) of unpaid leave. After March 31, you will be required to pay the employers' portion of your pension contribution, as you would for unpaid leave time beyond the first 20 days (150 hours).

Members of the Public Service Pension Plan have up to five years to purchase up to 30 days of unpaid leaves in a calendar year. The employer is required to pay their share of contributions.

All Municipal or Public Service Pension Plan members considering any other purchases of service should also be aware that all pension contributions are based on your current wage rate.

Municipal Pension Plan and Public Service Pension Plan members are able to buy back service for any unpaid LOAs taken in the previous five years. Time when you were not contributing to your pension can also be purchased as long as it is within five years of the application date. This includes probation and time worked as a casual or part-time employee when you were not a plan member.

Details concerning purchase of service can be found on the Municipal or Public Service Pension Plan website at www.pensionsbc.ca.