Gross pensionable pay definition

Gross pensionable pay means subject to paragraph 2.2 of this Schedule the highest annual average of a Bells Member’s basic salary from the Employers (plus any regular emoluments specifically stated to be pensionable in the Bells Member’s contract of employment) over any two year period in the last five years before the Bells Member leaves Service or dies, whichever occurs first.
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Gross pensionable pay means current basic pay (i.e. actual Rate 1, Rate 2 or Rate 3 Pay and so on) including, where applicable, any long-service increments payable plus pensionable allowances in the nature of pay and additional pay. ‘Net pensionable pay’ means gross pensionable pay less twice the maximum rate of State Pension Contributory payable to a single person with no dependants.
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Gross pensionable pay means subject to paragraph 2.2 of this Schedule the annual amount of the Member’s basic salary from the Employers plus such other emoluments as the Employer shall authorise to be included.
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More Definitions of Gross pensionable pay

Gross pensionable pay means current basic pay (i.e. actual Rate 1, Rate 2 or Rate 3 Pay and so on) and military service allowance (MSA) including, where applicable, any long-service increments (LSIs), flying pay and additional pay as well as any other pensionable payments (see section 7).
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Related to Gross pensionable pay

  • pensionable service means service which may be taken into account in computing pension under these Regulations;

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.

  • Final Average Pay means the participant’s average monthly compensation in the highest three calendar years of compensation out of five consecutive calendar years of employment during a period of eligibility service by the Company or an Affiliate. Years separated by a period of one or more calendar years when the participant has no such eligible employment shall be treated as consecutive. Additional compensation paid at retirement or other Separation from Service, such as for periods of unused vacation or sick leave, shall be attributed to calendar years by assuming that employment continued during the period based on which the compensation is measured. Severance pay shall be disregarded, except severance pay in lieu of service.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.