Buying service for arrears
Find out what to do if there was a period when you and your employer should have contributed to the pension plan but didn’t.
Cost for arrears
Your cost to buy arrears is based on:
- The length of the arrears period
- Your current full-time gross monthly salary (or full-time equivalent, if you work part time)
- The current employee contribution rate
When enrolment arrears are identified, you will receive a statement from BC Pension Corporation showing your cost. You may wish to pay as soon as possible. Since the cost is based on your salary and contribution rate at the time you apply to buy arrears, if your salary or contribution rate increases, it may cost you more.
When payroll arrears are identified, your employer must immediately pay the whole cost directly to the plan. They may bill you for your portion.