Members of the Municipal Pension Plan (MPP) who took any unpaid leaves of absence (LOA) during 2021 should consider buying back pensionable service for those leaves before the end of this month. If they choose to do so, their employer is obligated to pay its share of contributions to the pension plan for the first 20 days (150 hours) of unpaid leave. After March 31, members will be required to pay the employer's portion of their pension contribution.
MPP and Public Service Pension Plan (PSPP) members can buy back service for any unpaid LOAs taken in the previous five years. Time when they were not contributing to their pension can also be purchased if it is within five years of the application date. This includes probation and time worked as a casual or part-time employee when they were not a plan member, provided the employee did not sign a wavier opting out of the pension.
All MPP or PSPP members considering any other purchases of service should also be aware that all pension contributions are based on their current wage rate.
Details concerning purchase of service can be found on the MPP or PSPP website at www.pensionsbc.ca.
You can also contact:
Michelle Sordal Executive Councillor – Pensions C: 604-445-2003 email@example.com
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