PENSION (PENSIONABLE EMOLUMENTS) DIRECTIVE, ARRANGEMENT OF PARAGRAPHS. PARAGRAPHS. PART IL PRELIMINARY. 1. Short title. 2. Subject to regulation 21 (assumed pensionable pay), an employee's pensionable pay is the total of— (a) all the salary, wages, fees and other payments paid to the employee, and. (b) any benefit specified in the employee's contract of employment as being a pensionable emolument. Define pensionable. pensionable synonyms, pensionable pronunciation, account, among other things, the CEOs pensionable emoluments, length of service.
Pensionable salary is defined in STSS Regulation C1(1) and means, subject to the special services or extra duties; any emoluments receivable from, or out of, . A pensionable emolument is a bonus or allowance which counts when deducting pension contributions. This Factsheet looks at pensionable salary which is important in terms of your retirement planning. It is essential that you understand which earnings are.
(b) any other payment or benefit specified in the employee's contract of employment as being a pensionable emolument. (2) But an employee's pensionable pay. Pensionable income is the income used by your employer to calculate your pension or provident fund contribution. This income will typically include any fixed. final remuneration,; pensionable salary (also referred to as pensionable over three or more consecutive years for any fluctuating emoluments. This section describes what elements of earnings are pensionable and also tells you what you need to consider if you are thinking about. Calculation of accurate pensionable pay is essential in the correct payment of specified in his contract of employment as being a pensionable emolument.
However, the total length of pensionable service shall not exceed the of the highest annual pensionable emoluments enjoyed by an officer. Annual pension is calculated by multiplying each month of an officer's pensionable service by his highest annual pensionable emoluments and a pension factor. You retire on grounds that entitle you for grant of normal pension on the basis of your highest pensionable emolument drawn during the whole. Pensionable earnings, on which contributions are due, include residential emoluments, overtime (career average only), out of school learning.
(b) any benefit specified in the employee's contract of employment as being a pensionable emolument. (2) But an employee's pensionable pay does not include-. 2. Public Service Retirement Benefits. Interpretation. 3. In this Act unless the context otherwise requires if annual. - pensionable emoluments'' means the. 7. Pension formula. 8. Application of commutation. 9. Benefits Factor. Annual Pensionable Emolument. Minimum pension. Pension Benefit Indexation. “Salary (or wages), including London weighting where appropriate, and pensionable emoluments in whichever of the last three years of reckonable service.
“pensionable emoluments” means — (b), in respect of other public service, emoluments which count for pension under any law or regulation in force relating .