Examples of Final Salary in a sentence
Copies of diplomas and/or transcripts may be used to determine if an instructor meets minimum qualifications in their teaching area but may not be used to determine Final Salary Placement.
USS requires a contribution from the member (currently 6.5 per cent of salary for the Career Revalued Benefits section of the scheme and 7.5% for the Final Salary section of the scheme), to which a contribution of salary is added by the University as required by USS.
A new Career Average Revalued Earnings (CARE) Scheme was introduced on the 1st April 2015, which was a change from the previous Final Salary Schemes.
If a new member of staff has previously been a member of USS and rejoins the scheme on or after 1 October 2011 they will be eligible to rejoin the Final Salary section of the scheme if they:• left before 1 October 2011 and have deferred benefits in USS and are rejoining before 1 April 2012; or• leave the Final Salary section after 30 September 2011 and rejoin the scheme within 30 months of leaving.
Almond Housing Association closed the Final Salary Scheme to future accrual from 30 September 2015 and now offers only a defined contribution pension scheme option.