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Pensions - real increase in benefit
tichbourn
Posts: 29 Forumite
I wonder if anyone can help me here please...
I've read that the formula for calculating real increase in pension benefit is:
the real increase in pension x 20 plus the real increase in lump sum less member contributions.
Is the member contributions the EE's pension contributions, the EE's and ER's pension contributions added together or is it the actual earnings for the year concerned?
I've read that the formula for calculating real increase in pension benefit is:
the real increase in pension x 20 plus the real increase in lump sum less member contributions.
Is the member contributions the EE's pension contributions, the EE's and ER's pension contributions added together or is it the actual earnings for the year concerned?
0
Comments
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What exactly are you trying to calculate?
It sounds a bit like you are talking about the rules for calculating your annual allowance used up under a defined benefit scheme. But in that calculation you don't deduct contributions and it's x16 rather than x20.0
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