UKAEA Pensions

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Example of calculation of pension benefits

Example of calculation of pension benefits for a member who joined the United Kingdom Atomic Energy Authority pension scheme on 1 April 1978 and retires on 31 March 2017

For those members whose final earnings are based on 100% from 1 April 1997. In practice this means that for the member with pensionable final earnings of £20,000, who joined the pension scheme on 1 April 1978 and retires on 31 March 2017 the pension calculation would be as follows:-

For the period between 1 April 1978 and 31 March 1997

93.5% X £20,000 = £18,700

19 X £18,700 = £4,441.25
80

For the period between 1 April 1997 and 31 March 2017

100% X £20,000 = £20,000

20 X £20,000 = £5,000
80

Therefore the gross pension for this member would be £9,441.25

Your lump sum will normally be three times the pension. However, for some longer serving members there may be a deduction for outstanding family benefit contributions. If you need any further information about family benefit deductions, please contact your Local Pensions Officer or for United Kingdom Atomic Energy Authority employees only the Pensions Administration Office, Thurso.