Calculation of length of periods of membership
This section has no associated Executive Note
8.—(1) In calculating the length of a period of membership, fractions of years of membership count.
(2) The numerator of such fractions is the number of complete days of membership and the denominator is 365.
(3) Membership in part-time service is counted as the appropriate fraction of the duration of membership.
(4) The numerator of that fraction is the number of contractual hours during the part-time service and its denominator is the number of contractual hours of that employment if it were on a whole-time basis.
(5) The amount of any annual pension payable to a member as a result of membership is the member’s total period of membership multiplied by the member’s final pay and divided by 60.