Single Scheme Purchase Facility (Post 2013 Scheme)

Page updated 12 August 2022

The facility to purchase additional pension and/or lump sum referable amounts is available through the Purchase Facility under the Single Public Sector Pension Scheme.

The main purpose of the Purchase Facility is to allow persons who may not have a long career in the public service to boost their retirement benefits under the Single Scheme. It may, therefore, be of interest to persons who joined the public service in mid-career, or who have taken career breaks or other periods of extended unpaid leave.

Next Steps

1. If you are interested in augmenting your benefits under the Single Scheme, you can obtain a costing by using the (opens in a new window)calculator tool as provided by the Department of Public Expenditure and Reform (DPER).

2. Should you wish to proceed with a purchase, please email (opens in a new window)pensions@ucd.ie quoting “SPSP Purchase request” with the following details:

• Name
• Personnel number
• Date of birth 
• Attach a copy of the costing obtained from the DPER website

3. The Pensions Team will verify your eligibility to participate under the scheme and verify the cost required to purchase pension and/or lump sum referable amounts. Please note you must have completed the vesting period of 2 years and have a potential of 9 years full-time equivalent (FTE) to participate in the scheme.

4. If eligible, a quote letter will be issued to you along with a request form.

5. Should you wish to proceed at this point, please complete and return the request form with your instruction regarding the amount you wish to purchase. You should also lodge the relevant amount of money to the UCD Bank Account using bank details provided on the request form. Please ensure you include your personnel number in the EFT (electronic funds transfer) details to ensure your payment can be traced.

6. The Pensions Team will issue an acknowledgement of receipt and update your pensions record. The additional referable amounts purchased will be included on your next annual benefit statement.

7. A tax certificate will be issued to you to allow you to claim any tax relief which may be due to you from the Revenue Commissioners.

Points to Note

• You are limited to one purchase within a 12-month period.  You will therefore need to wait 12 months before entering your next purchase arrangement.
• A refund of the value of purchased referable amounts must be made in case a member does not comply with the requirement to be a member of the Single Scheme for 9 FTE years in advance of normal retirement age or although complying with the requirement to be a member of the Single Scheme for 9 FTE years, the sum of referable amounts purchased by the member exceeds that which would be permitted, taking into account the actual length of time the person has spent as a Scheme member on their date of resignation.
• Members are advised to seek independent financial advice before entering a contract for the purchase of benefits. Ultimately any decision to enter a contract for the purchase of additional benefits is a decision for the member.
• Members may also wish to consider making Additional Voluntary Contributions (AVCs) as an alternative or to complement the Purchase Facility.