Overwhelmed by all the pension jargon? Fear not, our pension glossary has you covered. All the important terms and acronyms explained right here.
What is a Pensionable Salary?
When your employer is working out how much to pay into your pension as a percentage of what you earn, they will use an amount known as your ‘pensionable salary’, which isn’t always the same as your monthly pay check. Your pensionable salary usually includes your fixed income each month, but can exclude commission, overtime or other variable amounts.