PART 3

Scheme membership
CHAPTER 5

Annual rate of pensionable earnings for multiple employments

Multiple regular full-time or part-time employments
40
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)/B
, where—
1. for a full-time employment, the A value is 1;
2. for a part-time employment, the A value is
(P T)/(F T)
3. PT means the amount payable for a full year of a part-time employment, not its full-time equivalent; and
4. B is the sum of all the values.

Multiple employments including at least one irregular employment
41
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.