You can make your first payment approximately 45 days after your leave begins. We will contact you by e-mail at that time to confirm your cost. You can only make payments for service associated with the current calendar year. For example, you cannot pay now for a buyback that will occur in two years' time.

You can also choose to pay after your absence, but your payments will be subject to interest charges and, depending on when you pay, there may be different tax implications.

There are two ways you can pay for an absence:

1. Pay during your absence
You can continue to contribute during your absence by providing us with postdated cheques or by setting up automatic bank withdrawals. You can sign in to iAccess Web any time after your leave starts to determine your monthly payments. 

By continuing to contribute, you avoid interest charges and there's no risk of missing the payment deadline.

2. Pay when you return to work
You have up to five years from the end of your eligible leave of absence or break in service to pay for all or part of the credit. Remember that as soon as your leave ends, interest will begin to be charged. If you miss the deadline, you forfeit the opportunity to buy back credit. If you buy back only part of your absence, you will receive a corresponding amount of credit.

How can I pay?
We accept buyback payments made from a personal bank account (by cheque, Internet or telephone banking) or through a transfer of funds from an RRSP or using a combination of these methods. Buybacks cannot be paid by credit card or by payroll deduction.

If you pay after April 30 of the calendar year following the year your absence ended, the buyback will be subject to approval from the Canada Revenue Agency (CRA), based on how much RRSP contribution room you have available. See Tax Implications for details.

Breaks in service due to disability
If you decide to buy back credit for a break in service due to disability, please contact us for payment options.