Increasing Your Pension Benefits Oct 2018 | Page 8

You can obtain a quote and application form from
www.sypensions.org.uk/Members/Contributing-
Members/Topping-Up/Process-To-Buy-Extra-
Pension
Before an election to pay additional contributions can
be accepted, you will be required to produce, at your
own expense, a medical report from a registered
medical practitioner to show that you are in reasonably
good health. A medical form for completion can be
obtained from our website at https://www.sypensions.
org.uk/Portals/0/News/MedicalDeclarationForm.
pdf?ver=2016-09-26-084942-103
How long do I have to pay
contributions?
You can choose to buy extra pension by spreading
payment of the additional pension contributions
over a number of complete years or by making a
one-off lump sum payment. However, if you are a
year or less from your Normal Pension Age (NPA)
or you are over NPA you can only pay by means
of a lump sum.
What if I am absent?
If, whilst paying additional contributions, you go
on maternity/parental leave with reduced or no
pay, you will be required to continue paying the
additional contributions in full.
What if I wish to stop paying or
leave before I have completed
the contract?
with the proportion of additional pension you have
bought to the date you stop paying.
If you later wish to re-commence payment you will
be required to take out a new contract and produce
medical evidence again. Your contributions will be
different to the original contract because the rate
is linked to your age.
If you leave (other than on the grounds of ill health
tiers 1 or 2) before completing the contract to buy
additional pension you will be credited with the
proportion bought to the date of leaving.
If, however, you are retired on health grounds
under tiers 1 or 2 while paying additional
contributions to increase your annual pension, the
contributions will be deemed to be fully paid. This
means that the full amount of additional pension
you were buying will be used in the calculation of
the benefits due.
What would happen if I were to
die in service?
Upon your death, no pension benefits would be
paid to dependants in respect of the additional
pension bought.
What if I choose to retire before
Normal Pension Age?
If you retire before your normal pension age and
you have completed your contract, an actuarial
reduction will apply to the additional pension to
allow for early retirement.
You may choose to stop paying additional pension
contributions at any time by notifying SYPA, in
writing, that you wish to do so. You will be credited
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SouthYorkshirePensionsAuthority
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