The amount of pension you receive as a result of the purchase depends on a “purchase adjustment factor” that is applied to all DBplus pension purchases.

The purchase adjustment factor depends on the number of years you are away from normal retirement at the date of the purchase.

If you make a purchase when you are more than 25 years from your normal retirement date, the purchase adjustment factor is 100%. If you are less than 25 years from your normal retirement date, the 100% adjustment is decreased by 1.4% per year, calculated on a day-by-day basis, reducing the purchased benefit.

This means the closer you are to your normal retirement age, the less pension your purchase will result in. For example, if you were to make a purchase and you were 20 years from your normal retirement date, the purchase adjustment factor would be 93% (100% - (1.4% x 5 years)).

Only you can decide if a purchase is a good idea for you, and if it’s a cost-effective way to increase your pension. Why not try the DBplus Purchase Tool? Within minutes, you’ll get an estimate of the cost of a purchase, and the impact it will have on your pension. Once you’ve used the tool there is no obligation to make a purchase but you can use the results to decide whether a purchase is right for you.