[F1Final salary link for a transition member with continuity of serviceU.K.
40.—(1) In calculating benefits payable under the AFPS 2005 to or in respect of a transition member with continuity of service (T), T’s final pensionable earnings are determined by reference to Schedule 7 to the 2013 Act as if “final salary” were a reference to “final pensionable earnings”.
(2) If a member’s final pensionable earnings on leaving service as a member of the AFPS 2015 are lower than their final pensionable earnings on their transition date, their final pensionable earnings are to be determined as if paragraph (1) in rule A.4 of the AFPS 2005 were replaced by the following—
“(1) In these Rules “final pensionable earnings”, in relation to a member, means the greatest amount that is the member’s total pensionable earnings for 365 consecutive days falling within the period beginning three years before their transition date and ending on their transition date.
(1A) In paragraph (1), “transition date” has the same meaning as in paragraph 1 of Schedule 2 to this Order.”.]
Textual Amendments
F1Sch. 2 inserted (1.4.2015) by The Armed Forces (Transitional Provisions) Pensions Regulations 2015 (S.I. 2015/568), reg. 1(2), Sch. 2