Pensionable Salary definition

Pensionable Salary. The sum of paid salary, wages and remuneration comprised by Articles 2.1.2.1 and 2.2.1 and which is pensionable salary to the employees of an operator.

Pensionable Salary means that part of pensionable remuneration which relates to salary and pensionable variable allowances, if any. It differs from pensionable remuneration only in excluding pensionable fixed periodic allowances.

Pensionable Salary means the greater of

Examples of Pensionable Salary in a sentence

• The amount of the contribution depends on the Member’s age on the first day of the month in which the premium is due and is expressed as a percentage of the Variable Net Pensionable Salary that is paid.

• The amount of the contribution depends on the Member’s age on the first day of the month in which the contribution is due and is expressed as a percentage of the Fixed Net Pensionable Salary that is paid.

• If and for as long as a Member accrues net pension on the Fixed Net Pensionable Salary, he/she may also choose to accrue net pension on the Variable Net Pensionable Salary.

• At the start of Membership, and every month afterwards, the Member owes a contribution on the portion of the Fixed Net Pensionable Salary that is paid monthly.

• The pension accrual on the Variable Net Pensionable Salary starts on January 1 of the next year.

More Definitions of Pensionable Salary

Pensionable Salary means a member’s basic monthly salary, plus any other earnings

Pensionable Salary means the monthly, weekly, daily or hourly pay, as the case may be of an ACTIVE MEMBER, and shall include:

Pensionable Salary means in relation to a Member the basic salary or wage of such Member from his Employer together with any allowance and other emoluments from the Employer which the Employer shall have determined to include for this purpose, but excluding all other allowances and emoluments, provided that during a period of temporary absence in accordance with Rule 47.1 or47.2 {non-maternity absence} the Pensionable Salary of a Member shall be the amount appropriate to such period at the basic annual rate from time to time of the salary or wage of such Member from his Employer together with the amount appropriate to such period at the annual rate from time to time of any allowance and other emoluments from the Employer which the Employer shall have determined to include for this purpose but excluding all other allowances and emoluments. Rule 57A has effect in relation to Members whose Pensionable Salaries are or have been subject to salary sacrifice.

Pensionable Salary means the sum of paid salary, wages and remuneration comprised by item 2.1.2.a) and 2.2.1 and which is pensionable salary to the employees of the Technical Services Provider.

Pensionable Salary. CONTRIBUTING SERVICE", "PENSIONABLE SERVICE" and "PARTICIPATING EMPLOYER".

Pensionable Salary means your basic pay and any permanent shift allowance received in the Scheme Year. If your Pensionable Service started on or after 1 June 1989, your Pensionable Salary cannot exceed the Earnings Cap. The Company’s decision as to whether any aspect of your remuneration is pensionable is final.

Pensionable Salary means that part of pensionable remuneration which relates to salary and percentage-of-salary allowances. It differs from pensionable remuneration only in excluding fixed periodic allowances. Where a pension has no fixed periodic allowances element, pensionable salary = pensionable remuneration. (Fixed periodic allowances were cut by 5% or 8% in 2010 under section 2(3) of the FEMPI (No. 2) Act 2009; the 2017 Act provides that that cut will be reversed on 1 October 2020).