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Final Salary Pension

Misteeq · 2024-04-12 16:04:50

Hi, Sorry if this has been asked before, but can someone please explain how a Final Salary Pension is calculated please? I worked for Eagle Star between 1995-2000 and only left as I was made redundant. Z Pen hold the pension fund which is a final salary pension. My salary at the time of leaving was around £25,000.00. I…

Comments

xylophone Posts: 45,850 Forumite

15 April 2024 at 8:55AM

Additionally, I can probably work out roughly what your pension will be if you were on the ES Tier (which it sounds like you were) as once you leave this pension goes up 5% every year until your 60 (regardless of inflation)
Just a thought - is there a GMP? If the scheme was "contracted out" (almost certain), then there will be.
See link in my previous concerning revaluation of GMP in deferment.
Does the Scheme use Fixed or Full Rate?

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