The buyback decision

February 05, 2016

Having kids and juggling a career is a bit like walking a tightrope. There's a myriad of decisions you need to make during those early years, and sometimes it feels like if you make the wrong one, you'll stumble off of that wire and come tumbling down.

When it comes to deciding whether or not to buy back your leave, we know that your situation is unique. Here are three things to consider when weighing your options:

  1. It's a sound investment. Knowing where to park your money is tricky when volatility in the markets has become the new normal. Your Ontario Teachers' defined benefit pension will provide you with a monthly retirement income that is determined by a formula based on how much you earned and how long you worked, not investment performance. 
    Tip: Check out the Buyback Centre in your online Ontario Teachers' account to explore different payment options and timelines. You can buy back a portion of the credit if you feel the total sum is out of your financial reach, and you have five years to pay from the time your leave ends.
  2. Keep your buyback simple. Tell us you intend to buy back the leave by April 30 of the year following the end of your leave. (For example, if your leave ended in January 2015, you have until April 30, 2016). This won't lock you into a buyback – you can still decide not to – but it will ensure a less complicated tax situation.
    Tip: You can give us your intent in the Buyback Centre of your online Ontario Teachers' account, or by calling us. If you waited until after April 30 of the year following the end of your leave, then give us a call
  3. Download BabySteps, our app. Track your buyback and important deadlines.
    Tip: Read exclusive blogs about balancing life as a new mom and a teacher and learn more about buybacks.

BabySteps turns one!

It's been a big year since we launched our first secure app. Here are some highlights:

  • More than 2,300 new moms have downloaded the app
  • Our top users are, on average, 36 years old with a maternity leave from the past three years
  • We've published 36 exclusive blogs, from parenting pros
  • We've had more than 8,000 interactions with you through the app over the course of the year
  • Oxford, our buyback expert's mini video series has garnered nearly 5,000 views on and