Career average pension
A pension built up each year as a share of that year's pay, then revalued. Both the TPS and LGPS work this way.
Example
Each year of service adds a slice of pension based on that year's salary.
A pension built up each year as a share of that year's pay, then revalued. Both the TPS and LGPS work this way.
Each year of service adds a slice of pension based on that year's salary.