College Pension Plan News: deadline for puchase is March 31, 2007

The deadline to apply to purchase service that occurred before March 1, 2002 is the earlier of March 31, 2007, or termination of current employment with a College Pension Plan employer. If you do not apply by the deadline, you will lose the opportunity to purchase those periods of past service.

What can you purchase?

You may be entitled to purchase past service such as:

• time you worked with a College Pension Plan employer but did not contribute to the pension plan, or
• time when you were on an approved leave of absence from a College Pension Plan employer.

If you took a refund of contributions from the BC Municipal, Public Service or Teachers' pension plans, you have until March 31, 2007 to pay back the refund, with interest, and transfer that service into the College Pension Plan.

What about purchasing leaves that ended on or after March 1, 2002?

You can apply to purchase service for leaves that end on or after March 1, 2002 within five years of the end of the leave period or before you terminate your employment, whichever comes first.

Where get you get more information?

To find out more about purchasing past service or reinstating a refund, including costs, visit the Purchase of Service section of the plan website at college.pensionsbc.ca or call the College Pension Plan at 1-888-440-0111.

About FPSE

The Federation of Post-Secondary Educators of BC is the provincial voice for faculty and staff in BC teaching universities, colleges and institutes, and in private sector institutions. FPSE member locals, represented by Presidents' Council and the Executive, represent over 10,000 faculty and staff at 18 public and 12 private sector institutions.