Paragraph 44 Meaning of “final salary benefit”F1
England and Wales
(1)
In this Part, “final salary benefit” (“budd cyflog terfynolmeans benefit accrued under a final salary scheme, subject to sub-paragraph (2).
(2)
Where only part of the pension entitlement payable under a final salary scheme to or in respect of person which is based on the pensionable service of that person is or may be determined by reference to the person’s final salary, “final salary benefit” means the benefit in respect of which the pension entitlement is so determined.