SCHEDULETHE ARMED FORCES REDUNDANCY SCHEME 2020
PART 1Interpretation and method of calculating periods of service
Meaning of “final relevant earnings”
3.—(1) In this Schedule, “final relevant earnings” in relation to a person, means the greatest amount that is the person’s total relevant earnings for 365 consecutive days falling within the period of 3 years ending with the person’s last day of redundancy qualifying service.
(2) If the person was required to be in service as a member of the armed forces during any period of 365 consecutive days falling within the period of 3 years mentioned in sub-paragraph (1), but was not in such service for a period of 365 consecutive days, then the sub-paragraph applies as if it referred to the person’s annualised relevant earnings in the period of redundancy qualifying service ending with the last day of such service.
(3) The person’s “annualised relevant earnings” in a period of service are the amount given by the formula—
where—
RE is the person’s relevant earnings for the period, and
N is the number of days in the period for which relevant earnings were received.