How to buy arrears
Find out how to buy arrears if there was a period when you and your employer should have contributed to the plan but didn't.
How to buy payroll arrears
Payroll arrears most commonly occur if your employer did not:
- Deduct pension contributions on salary paid to you during a partially paid leave of absence
- Resume making pension deductions after a period of unpaid leave (such as a maternity leave)
Contact your employer if you notice a period when you should have contributed to BC's College Pension Plan but did not.
What is the cost?
Your cost for buying payroll arrears is based on:
- The length of the arrears period
- Your current full-time-equivalent salary
- The current employee contribution rates
What is the process?
Contact your employer if you notice a period where you should have contributed to the plan but didn't. Your employer will need to complete a Purchase of service application form and submit it to the plan. Once we receive the form, we'll send your employer a statement showing the cost. Your employer will bill you for your share.