If a portion of your service, which was contracted by a former employer under a pension transfer contract, is not recognized by the public service pension fund, you can buy it back. However, if you are back in the public service and are re-contributing to the retirement plan, your monthly pension (including indexation) will be suspended because you are unable to receive a state pension while accumulating pension benefits. Your monthly pension starts again as soon as you stop contributing to the public plan and your pension will most likely be recalculated on the basis of your combined pension credits. The annual percentage increase obtained by indexing is based on your last retirement date. For more information, see the impact of re-use on the performance of the index. Generally speaking, members of public service medical pension insurance who left the public service before January 1, 2013 and who turn to: Explore these links to learn more about pension transfer contracts: If you are entitled to a pension, you can, under certain conditions, transfer your service to the public pension. If your new employer or potential employer has not yet entered into a pension transfer agreement with the Canadian government, but is interested, the employer may apply to the Pensions and Benefits Sector of the Treasury Board Secretariat. Please note that this may take some time and you only have one year after you leave the public service to choose a transfer value. If the deadline is approaching and your estimate has been delayed by the retirement centre, you should consider the choice without an estimate. The public service retirement plan does not require an estimate, so failure to meet a plan does not affect your time frame for a normal choice.
will still be subject to the terms of the retirement plan before 2013, when they return to the federal public service on or after January 1, 2013. During leave without payment, you can count the leave period as a pension service, provided you make the necessary contributions and the leave is allowed. A “public employee” refers to employees of a federal government department. This also includes staff working for the following organizations: Be sure to carefully consider your retirement options before deciding to transfer your pension credits. This may include reviewing the provisions and benefits of your former employer`s plan and comparing them with those of the RCMP pension plan. Factors such as health care and available dental care in retirement should also be considered. If you buy back the service within one year of becoming a member of the public service pension plan, that is called the normal choice. To do this, you can read the service purchase package, complete a special voting form and send it to the address listed on the form before the required time expires.
The election is sent to the retirement centre for verification. If necessary, measures are taken to implement wage deductions.