Regulation 129 Meaning of “annualised final pay”I1
United Kingdom
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—
where—
FP is the amount of the member’s permanent pensionable earnings payable in respect of that period of service; and
N is the number of days in that period.
But if the continuous period of pensionable service includes 29th February, paragraph (1) has effect with the substitution for “365” of “366”.
In this regulation—
if the member is a transition member with continuity of service, “pensionable earnings” in respect of any period includes the member’s pensionable earnings under the PCSPS before the transition date for that member; and
in respect of a period of assumed pay, “pensionable earnings” means the member’s assumed pay.
Annotations
Textual amendments
- F1
Reg. 129(3) substituted (with effect from 1.4.2015) by The Public Service (Civil Servants and Others) Pensions (Amendment) Regulations 2018 (S.I. 2018/537), regs. 1(2)(b), 22