Hi,
I'm a recent recruit to the civil/public service and am wondering to those of you who have been recruited in the last year or two have you been able to get figures on the 'buy back' costs for pensions?
Does anyone have any rough figures as to how much it costs to buy back each year of say, Clerical Officer pension?
All I know locally is that it is supposed to be extraordinarily expensive, but I am awaiting clarification in my department as to the cost. I'm not a union member.
How is the buy back deducted? Weekly from wages? In a lump sum?
Also, if a person takes a career break or unpaid paternity leave etc can they buy the pension contributions for this period too?
I presume across the public/civil service sectors you need 40 years contributions with the exception of say the emergency services?
So if you have 30 years of 40 worked you get three quarters of the pension lump sum and weekly pension unless you buy back years?
Any rough/old figures on the cost of each 'year? Cheers
I'm a recent recruit to the civil/public service and am wondering to those of you who have been recruited in the last year or two have you been able to get figures on the 'buy back' costs for pensions?
Does anyone have any rough figures as to how much it costs to buy back each year of say, Clerical Officer pension?
All I know locally is that it is supposed to be extraordinarily expensive, but I am awaiting clarification in my department as to the cost. I'm not a union member.
How is the buy back deducted? Weekly from wages? In a lump sum?
Also, if a person takes a career break or unpaid paternity leave etc can they buy the pension contributions for this period too?
I presume across the public/civil service sectors you need 40 years contributions with the exception of say the emergency services?
So if you have 30 years of 40 worked you get three quarters of the pension lump sum and weekly pension unless you buy back years?
Any rough/old figures on the cost of each 'year? Cheers