AMOUNT OF BENEFIT
CASH = | 8% x Final Average Annual Salary (including bonus) x Pensionable Service |
PLUS | |
Additional 10% (max 100%) for each completed year of service after 6 years as per scale below. |
SCALE
Number of years | Percentage |
Less than 6 | Nil |
More than 6 years | 10% |
More than 7 years | 20% |
More than 8 years | 30% |
More than 9 years | 40% |
More than 10 years | 50% |
More than 11 years | 60% |
More than 12 years | 70% |
More than 13 years | 80% |
More than 14 years | 90% |
15 years and more | 100% |