UKAEA Pensions

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What if I have worked part-time?

Your scheme benefits will reflect the actual hours you have worked.

The full time equivalent pensionable final earnings are used for calculating retirement benefits for periods of part-time working. The service is prorated as a fraction of the normal contractual hours worked by an equivalent full time member.

If for example you worked part-time for 20 hours each week and the full time contractual hours for someone in the same grade were 37 hours per week, the calculation would be based on 20 hours divided by 37 hours. If you joined the scheme at age 35 and retired at age 60. i.e 25 years

Your pension would be calculated using 13 years 187 days service

(25 x 20/37 = 13 years 187 days).

For members who work part-time hours, the death in service lump sum benefit is calculated using the highest twelve months actual pensionable earnings during the last three years of service rather than the full time equivalent pensionable final earnings.