AY is where you can buy additional years and days membership by paying additional contributions.
Full Cost AY contracts were available up until 31 March 2009.
You're eligible to buy Half Cost AY if you're a member of the 1995 Section and you took a refund of NHS contributions for a period of either:
- membership before 6 April 1978
- when you were a self-employed Practitioner
The terms of the contract depend on your:
- contributions at the time
- predicted amount of membership at retirement
The total amount of membership can not exceed 40 years at age 60.
Read more information on our website.
Stopping an AY contract
If you want to stop your AY contract early, you must write to us with a brief explanation why. We’ll reply to you and your employer with the decision.
The date this will be effective from is the date we received the instruction to end the AY contract or the end of the monthly pay period. If the effective date is different, this will be included in the reply to you and your employer.
The reply will show the amount of AY you’ve bought.
Having a break in pensionable membership
If you rejoin within 12 months, you can resume your AY contract when you rejoin the Scheme.
You cannot pay arrears on the missing period. This period will not count towards your AY.
If you do not rejoin the Scheme within 12 months, you cannot resume the AY contract.
You’ll purchase less AY.
Retiring under ill health
You’ll be credited with the full amount of membership you would have purchased had you carried on making contributions until your Normal Pension Age (NPA).
If you worked part-time, the additional membership purchased will be worked out based on the number of pensionable hours actually worked.
Read more information on ill health retirement on our website.
Member has died
They’ll be credited with the full amount of membership they would have purchased if they had carried on making contributions until their NPA.
If they worked part-time, the additional membership purchased will be calculated based on the number of pensionable hours actually worked.
Read more information on Life Assurance and Family Benefits on our website.
Take pension benefits before AY end date
AY contracts normally end when you reach age 60 or 65.
Special Class members could have chosen age 55. If they take benefits before their payable age, they'll be actuarially reduced.