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Working out benefits between April 2008 and March 2014

Between 1 April 2008 and: 31 March 2014
  • Benefits built up during this period are final salary benefits
  • They are worked out using membership and final pay. That's not your pay during the period 2008 to 2014, it's your pay in the future – pay close to the time you leave
  • For each year of membership between 1 April 2008 and 31 March 2014 you get:

    1/60th of your final pay as a pension

    We can also show this as a formula:

    Pension = membership between 1 April 2008 and 31 March 2014 × Final pay ÷ 60

    Please note... there is no automatic lump sum for this period. But you can give up some pension and take it as a lump sum instead.

    Don't forget to add this to any other benefits you have.

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