This is the pay on which you normally pay pension contributions.
Pensionable pay is relevant to any pension calculations after 1 April 2014. For final salary pension, up to 31 March 2014, the pension is calculated on Final Pay.
You can view your pensionable pay in the Your Current Benefits section in My Wiltshire Pension (opens new window). If you think that your pay deatils are incorrect, you will need to contact your payroll department in the first instance.
Typically pensionable pay includes
- your normal salary or wages
- bonuses
- overtime (both contractual and non-contractual)
- maternity, paternity, adoption and shared parental pay
- shift allowance
- additional hours payments if you work part-time
- any other taxable benefit specified in your contract as being pensionable
You do not pay contributions on
- any travelling or subsistence allowances
- pay in lieu of notice
- pay in lieu of loss of holidays
- payment as an inducement not to leave
- any award of compensation (other than payment representing arrears of pay) made for the purpose of achieving equal pay
- pay relating to loss of future pensionable payments or benefits
- pay paid by your employer if you go on reserve forces service leave
- the monetary value of a car or pay received in lieu of a car
- any sum which has not had tax liability determined on it
Difference between CARE and Final Salary
There are three main differences to your pensionable pay that is calculated for your CARE pension (after 1 April 2014) and Final Salary (up to 31 March 2014), they are:
- non-contractual overtime has been removed from the exclusions list and so, from 1st April 2014, non-contractual overtime becomes pensionable
- a payment in consideration of loss of future pensionable payments or benefits is, from 1st April 2014, not pensionable
- any actual pay paid by the Scheme employer to a reservist during Reserve Forces Service Leave is not pensionable
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