Career Average Pension -
Membership before 1st April 2014
It is important to note that all pensions built up before 1 April 2014 are
protected. As a current contributing member to the Scheme you will get a
pension (and automatic lump sum if any) based on your final pay at eventual
retirement, calculated under the current scheme definition of pensionable pay
(as detailed on page 7). This means that any future pay increases you receive
will be included in the final pay used to work out these benefits. It’s also worth
mentioning that you will maintain the best of the last three years check. Your
final pay is generally your last 12 months of membership, however we will use
one of your previous two years if that is higher when calculating your pension
built up before 1st April 2014.
Protection
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The other highlight to protection on pension built up before 1 April 2014 is you
will maintain the current definition of Normal Pension Age, which for the majority
of our members is age 65.
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