This option is no longer available for new contracts.
If you were a member of the Scheme before 1 April 2009 you may have elected to purchase additional years. You were able to buy 6 2/3 additional years to increase your pension benefits by paying additional contributions to your retirement age. The purchase of additional years is a final salary type arrangement and depending on your age at the time of joining the Scheme will either be:
- each year that you purchase will increase your pension by 1/80th and your lump sum by 3/80ths, or
- each year that you purchase will increase your pension by 1/60th
Further information is available from NILGOSC on request.