There are a few facts you should know if you buy back only part of a year, if your purchase affects your best-five years' salary, if you work part time or work in education during your absence.

Qualifying years
Qualifying years are counted as actual time when you buy back credit. For instance, if you buy back credit for four months, you receive four months of a qualifying year.

Keep in mind that qualifying years are used to calculate your 85 factor. We use your 85 factor to determine when you're eligible for an unreduced pension and the early retirement reduction that applies if you begin receiving your pension early. Actual credit is used to calculate the amount of your pension benefit.

Average salary
Buying back credit may not increase your average "best-five" years' salary, one of the key factors on which your pension is based.

If you are nearing retirement, make sure you understand the impact of buying back credit. Contact our office for details.

Reduced workload
If you move from full-time to part-time work, you're not entitled to purchase credit for the reduced work you are no longer doing. You can buy back credit for time away only if your absence is a continuous period during which you do not work.

Work during your absence
Working in education on a contractual basis during your absence may make you ineligible to buy back credit.