Regulation 101 Meaning of “annualised final pay”I1

For the purposes of this Chapter, for a continuous period of pensionable service that is less than 12 months, a member’s annualised final pay is:

$$\mathrm{FP}\times \frac{365}{N}$$

where—

• FP is the amount of the member’s pensionable earnings payable in respect of that period of service; and

• N is the number of days in that period.

If the continuous period of pensionable service includes the day 29th February, paragraph (1) has effect with the substitution for “365” of “366”.