Wendy has been a member of an occupational final salary defined benefit pension scheme for 20 years. She is currently 45 years old and plans to retire when she is 65. Her expected final year’s salary is £30,000. The pension scheme operates on the basis of 1/80 of salary per year of membership of the pension scheme. What can she expect to receive as her pension per annum?

Wendy has been a member of an occupational final salary defined benefit pension scheme for 20 years. She is currently 45 years old and plans to retire when she is 65. Her expected final year’s salary is £30,000. The pension scheme operates on the basis of 1/80 of salary per year of membership of the pension scheme. What can she expect to receive as her pension per annum?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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