Your pension from the 2000 Plan is calculated on three bases. You will receive a retirement pension amounting to whichever is the highest figure produced by the following three calculations:



Note
Contributions used to calculate your final pension are broadly not affected by SMART Pensions.

Under the Plan Maximum your benefits (excluding AVCs and SBS benefits but including previous benefits in other schemes) must not exceed 2/3rds of your final earnings. Your final earnings can include other taxable benefits, such as overtime or shift payments and may therefore be greater than your Final Pensionable Earnings.

**The Longevity Adjustment Factor is only applied to that part of your pension earned after 5 April 2006. The factor varies depending on your age at that date and your age when you retire and will be calculated at the same time as your pension is calculated.