What You Need to Do
Once you or your employer informs us of your approved leave, we'll update your Buyback Centre so you can review your options. We'll provide a cost estimate, tell you how you can pay and show you the impact buying back will have on your pension.
After your leave starts, we'll calculate a more precise cost and inform you when you can start making payments. You'll have five years from the end date of your leave to finish paying for your buyback.
3 steps to buy back
- Visit your Buyback Centre.
- Tell us if you intend to buy back your leave.
- Set up your payment plan.
It's important to note that different tax rules apply based on the timing of your decision.