<prompt> Human: I work for a school district and can buy service credits which would increase the amount i receive when i retire.Buying 5 credits would cost me 80k and give me an additional 900 a month when im 62, im currently 42.Im having trouble working out if its worth it.  <response>: Consider it this way. If you took that 80k and bought an annuity the closest thing to a pension, the pay out rate would be like 5-6. But 900 extra a month is a payout of 13.5 so in other words, its better rate than you could get on the private market. However, you need to ask yourself if you need that extra guaranteed income. Most people want an income floor. So, add your projected SS incomes, and the current pension. If thats enough to cover your necessities, than you dont need to buy the time back assuming a cola. If you need or desire more guaranteed income, than its a no brainier. 