Additional service that a member of the Fund can buy by paying extra contributions to the Fund providing that Inland Revenue limits on pension and contributions are not exceeded.
A type of Additional Voluntary Contribution which enables you to 'buy' extra years of service to enhance your final salary scheme. This means that your years of service with your employer can be increased to give you a bigger pension based on your final salary. back
A pension term. Some final-salary pension schemes allow members to top up benefits through buying extra years of service. Employees get a good deal because the employer gives a guaranteed benefit and takes the investment risk.