Wendy has been a member of an occupational final salary defined benefit pension scheme for 20 years. She is currently 45 years old and plans to retire when she is 65. Her expected final year’s salary is £30,000. The pension scheme operates on the basis of 1/80 of salary per year of membership of the pension scheme. What can she expect to receive as her pension per annum?

Answer rating: 100% (QA)

Final Salary arrangement The pension you receive is based upon your Final Average Salary the number of years of reckonable service and the accrual rate There is a different accrual rate for the differ... View the full answer