Pension Plan Buyback Option Announced
Wednesday, January 20, 2010
The employer sponsor of the Public Service Pension Plan has announced an amendment to the PSPP that changes the plan's buyback provisions for all active members.
This amendment introduces changes to the plan’s buyback provisions that may allow PSPP members who previously missed an opportunity to buy back pension credit for eligible service, to buy this pension credit back. This amendment is particularly important to those members who did not previously purchase eligible past service in the PSPP within the 24-month window from date of hire or return from leaves of absence.
For more information about the buyback amendment and the changes being introduced, please refer to the Buyback Amendment Fact Sheet.
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