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Pensions Act 2004
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- UK Public General Acts
- 2004 c. 35
- SCHEDULE 7
- Accrual rate, pensionable service...
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Changes over time for: Cross Heading: Accrual rate, pensionable service and pensionable earnings
Version Superseded: 03/01/2012
Alternative versions:
- 06/04/2005- Amendment
- 01/01/2012
Point in time - 03/01/2012- Amendment
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Point in time view as at 01/01/2012.
Changes to legislation:
Pensions Act 2004, Cross Heading: Accrual rate, pensionable service and pensionable earnings is up to date with all changes known to be in force on or before 27 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Accrual rate, pensionable service and pensionable earningsE+W+S
36(1)In this Schedule, in relation to a member’s entitlement to benefits under the scheme, each of the following expressions has the meaning given by this paragraph—E+W+S
“accrual rate”;
“pensionable earnings”;
“pensionable service”.
(2)“Accrual rate” means the rate at which under the admissible rules rights to the benefits accrue over time by reference to periods of pensionable service.
(3)“Pensionable earnings” means the earnings by reference to which the benefits are calculated under the admissible rules.
(4)Subject to sub-paragraph (5), “pensionable service” means—
(a)actual service in any description of employment to which the scheme applies which qualifies the member for benefits under the scheme, and
(b)any notional service allowed in respect of the member under the admissible rules which qualifies the member for such benefits.
(5)The service within sub-paragraph (4)(b) does not include—
(a)service attributable (directly or indirectly) to a pension credit, or
(b)service of a prescribed description.
Modifications etc. (not altering text)
C1Sch. 7 modified (6.4.2005) by The Pension Protection Fund (Reviewable Ill Health Pensions) Regulations 2005 (S.I. 2005/652), regs. 1(1), 15
C2Sch. 7 applied (with modifications) (6.4.2005) by The Pension Protection Fund (Reviewable Ill Health Pensions) Regulations 2005 (S.I. 2005/652), regs. 1(1), 14(2)
C3Sch. 7 modified (6.4.2005) by The Pension Protection Fund (Compensation) Regulations 2005 (S.I. 2005/670), regs. 1(1), 12 (with reg. 23(3))
C4Sch. 7 applied (with modifications) (6.4.2005) by The Pension Protection Fund (Hybrid Schemes) (Modification) Regulations 2005 (S.I. 2005/449), regs. 1(1), 3(2)-(4)
C5Sch. 7 applied (with modifications) (6.4.2005) by The Pension Protection Fund (Reviewable Ill Health Pensions) Regulations 2005 (S.I. 2005/652), regs. 1(1), 13(1)
Commencement Information
I1Sch. 7 para. 36 in force at 6.4.2005 by S.I. 2005/275, art. 2(7), Sch. Pt. 7
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