Pensionable Pay definition

Pensionable Pay means average pay earned by the teacher for the period as may be decided by the Government, from time to time;

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Pensionable Pay means that part of a member’s pay which counts as pensionable pay under the scheme rules;

Pensionable Pay means, in respect of a particular period, the amount of a Member’s basic pay, salary wages or fees paid to the Member from his or her Employing Authority, plus anything else, whether in a specific case or generally, that the Public Sector Pensions Authority determines in accordance

Examples of Pensionable Pay in a sentence

Your Pensionable Pay for the purposes of determining your contributions and Prudential’s contributions will be your Basic Salary.
In respect of Members (including Members who have been designated by the Principal Employer as in EB 6 and above) who joined the Plan on or after 1 April 2011, Pensionable Pay means basic annual earnings, plus any holiday pay and any Higher Duties Allowance received.
In the absence of any further reviews, this average contribution rate would be paid for 20 years from 1 April 2005, reverting to 9.2% of Pensionable Pay at the end of the period.
If the deficit is recovered over this 20 year period then the average employer contribution rate emerging from the valuation is 13.2% of Pensionable Pay per annum.
An Employer rate of 15% of Pensionable Pay currently applies to EB 6 Members who joined the Plan before 1 April 2016 and any other Member who the Principal Employer, with the consent of the Trustees, designates as an EB 6 Member.

More Definitions of Pensionable Pay

Pensionable Pay shall have the same meaning as set out in the Definitive Trust Deed and Rules of the UPF.

Pensionable Pay means the Member’s Pay calculated at 1st April prior to the Section Year in question or, if later, the date of joining the BR Pension Scheme.

Pensionable Pay means earnings as specified in the applicable Participation Agreement.

Pensionable Pay has the meaning set out in Regulation 4 of the Benefit Regulations;

Pensionable Pay means the amount of money paid to an OPTrust Select member by an OPTrust Select employer during a calendar year, computed by reference to the hours, days, weeks or other specific periods of time for which the member is employed by the OPTrust Select employer, but does not include overtime pay, lump sum payments other than those representing retroactive salary or wages, performance bonuses, any payment to the member in lieu of a benefit provided by the OPTrust Select employer, payments expressly set out in the relevant OPTrust Select Participation Agreement to be excluded; or any other payment determined by the Board, in its sole and exclusive discretion, not to be part of pensionable pay;

Pensionable Pay means such amount of the MEMBER’S remuneration, in terms of his contract of employment, as agreed between the EMPLOYER and the MEMBER and in consultation with the TRUSTEES; provided that:

Pensionable Pay means, in relation to a Member or Eligible Employee in respect of a Pay Period, that Member’s or Eligible Employee’s basic salary paid in that Pay Period together with the amount paid in respect of flexible hours in that Pay Period