Nova Scotia Pension Agency > Teacher's Purchase Calculator

Effective January 1, 2006, the actuarial methodology used in calculating your cost to purchase service will be changing. To give you an idea of what the impact would be on your purchase price, the calculator will show the cost calculated on both the current basis, which will be in effect until December 31, 2005, and the new basis, which will be effective starting January 1, 2006.

Note that the purchase price in both cases is based on current economic assumptions and plan provisions. If there is a change to either of these, the purchase price could be affected.

The cost to purchase service is an estimate for illustrative purposes only. It is intended solely to give you a reasonable idea of how much it would cost you to purchase the indicated amount of service, based on the data you enter and the date on which you enter it. When you are actually ready to make your purchase, please contact Nova Scotia Pension Agency and we will determine your eligibility to purchase that service and provide you with the exact cost of the purchase.

If you are working part-time, this calculator may not be able to provide a reasonable estimate of your purchase price. Please contact the Nova Scotia Pension Agency for a more accurate figure.

There will not always be a linear relationship between the amount of service being purchased and the cost to purchase the service. For example, it may cost you slightly more than twice as much to purchase two years as it would to purchase one year. This is due to the fact that your cost is based in part on your assumed retirement date, which is a function of your age and the amount of service you have, including any purchased service. The more service you have, the greater the likelihood that your assumed retirement date will be earlier. The earlier your assumed retirement date, the greater the cost.

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