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Also sometimes known as pensionable salary, this term refers to earnings used to calculate pension benefits and contributions that depend on a member’s salary. It is used in salary-based pension schemes, such as a final salary scheme, to determine the member’s accrued benefit and contribution levels. Often only a member’s basic salary is used to calculate their pensionable earnings, with overtime, commission and bonuses exempted. If the member wants to make contributions based on these extra earnings they can made addition payments through an AVC or FSAVCs

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