Notional Salary definition

Notional Salary means sixty-five percent (65%) of the Total Remuneration Package;
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Notional Salary means the rates of emoluments which a teacher would have received from time to time if he had continued to be employed in the post which he held immediately before the date of reorganisation and if the reduction in his emoluments had not taken place.
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Notional Salary means the monthly emoluments comprising basic pay and dearness allowance payable to an employee not withstanding the actual salary drawn for that month.
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Examples of Notional Salary in a sentence

  • Your pensionable salary will include an amount in respect of annual bonus (up to a maximum of 15% of UK Notional Salary).

  • The allowance to be paid shall be based on the Notional Salary component of the salary paid on a base level Commander’s package.

  • For pension purposes only you will have a notional UK salary (the UK Notional Salary).

  • Such payments will be based on your Notional Salary (see Useful Terms).

  • As used in this Agreement, Notional Salary means L82,200, subject to review by the Board in January of each year.

  • To this effect, the current Annuity Factor of 92.379 would be made dynamic to assure monthly pension restricted to a maximum of 50% of "Last drawn Notional Salary" to all the members.

  • Your current UK Notional Salary is £359,000 and, subject to the normal discretion of ICI’s Remuneration Committee, will be adjusted annually by the weighted average percentage increase applied to your salary as set out in clause 4.1 of this agreement and applied to your salary as set out in clause 4.1 of the Dutch Contract.

  • Your employee pension contributions will be based on your UK Notional Salary plus any pensionable bonus element.

  • No, we will confirm the amount of your Notional Salary which is your income before any adjustment under PensionFlex or for childcare vouchers.

  • The Company shall contribute to the Scheme at the rate required to accrue for the Executive a pension entitlement of not less than 1/30th of Notional Salary for each year of employment with the Company.


More Definitions of Notional Salary

Notional Salary means Salary on the basis that the person was working normally and receiving remuneration likely to have been paid for so doing as decided by the Employer from time to time, provided that it has been possible for the Trustee to insure benefits based on Notional Salary. If the Trustee has not been able to effect insurance, the provisions of FS Rule 9.3 shall apply.
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Notional Salary means in respect of a Salary Sacrifice Member the salary, pay or earnings which a Salary Sacrifice Member would have received if he had not sacrificed salary under a recognised salary sacrifice arrangement in return for the Principal Employer or any of the Participating Employers agreeing that he will be a Salary Sacrifice Member and to pay Salary Sacrifice Contributions for him.
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Notional Salary means sixty-five percent (65%) of the Total Employment Cost;
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Notional Salary means the composite rate of the applicable Annual Base Salary in Schedule A and as appropriate and where applicable the following allowances prescribed under:
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Related to Notional Salary

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Salary as defined in Section 3.1(a).

  • Average final compensation means the average annual creditable compensation of a member during

  • Annual Compensation means the wages paid to the member during covered employment within the meaning of Section 3401(a) of the Internal Revenue Code, but determined without regard to any rules that limit the remuneration included in wages based upon the nature or location of employment or services performed during the plan year plus amounts excluded under Section 414(h)(2) of the Internal Revenue Code and less reimbursements or other expense allowances, cash, or noncash fringe benefits or both, deferred compensation, and welfare benefits. Annual compensation for determining benefits during any determination period may not exceed the maximum compensation allowed as adjusted for cost of living in accordance with §5-10D-7 of this code and Section 401(a)(17) of the Internal Revenue Code.