Buying back credit for an absence means you accumulate more credit. More credit, and not what the buyback costs, will give you a larger pension.

To see the cost to buy back credit for a past or future absence, sign in to your Ontario Teachers' account and visit your Buyback Centre.

Calculating the cost

There are two ways we determine the cost of buying back credit: contributions plus interest and actuarial basis.

Contributions to your pension plan, including buybacks, are matched by your employer. Essentially, this means you are paying for 50% of your retirement.