PART 3Scheme membership

CHAPTER 5Annual rate of pensionable earnings for multiple employments

Multiple regular full-time or part-time employments40.

(1)

This regulation applies if—

(a)

a person (P) is in pensionable service in relation to more than one employment, and

(b)

each employment is a regular full-time or part-time employment.

(2)

P's annual rate of pensionable earnings is found by—

(a)

calculating the D value for each employment; and

(b)

adding all the D values.

(3)

The D value for an employment is FT x C.

(4)

FT means the annual rate of pensionable earnings for that employment.

(5)

C means

t h e   A   v a l u e Bmath

, where—

  1. a

    for a full-time employment, the A value is 1;

  2. b

    for a part-time employment, the A value is

    P T F Tmath
  3. c

    PT means the amount payable for a full year of a part-time employment, not its full-time equivalent; and

  4. d

    B is the sum of all the values.

Multiple employments including at least one irregular employment41.

(1)

This regulation applies if—

(a)

a person (P) is in pensionable service in relation to more than one employment; and

(b)

at least one employment is an irregular employment.

(2)

P's full-time equivalent annual rate of pensionable earnings is the higher of—

(a)

Figure 1, and

(b)

either—

(i)

Figure 2, if P is in more than one regular employment, or

(ii)

Figure 3, if P is only in one regular employment,

where—

Figure 1 is obtained by dividing the sum of the annual rates of each of P's employments by the total number of P's employments;

Figure 2 is the result of the calculation set out in regulation 40 for P's regular employments, disregarding P's irregular employment or employments; and

Figure 3 is the full-time equivalent rate of pensionable earnings for P' sole regular employment.

(3)

If Figure 1 and either Figure 2 or Figure 3 are the same amount, P's annual rate of pensionable earnings is that amount.