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Nilgosc


Classroom Assistant Pension Calculation Example

To show you that the benefits are unaffected by the change to the regulations, we have used an example for someone who worked five years before the Collective Agreement and five years after.

It should be noted that the calculation has not been complicated by introducing the 1/60th accrual which applies from 1 April 2009. The purpose of this illustration is to show that the amending regulations ensure that the final pension and lump sum are the same as would have been expected prior to the amending regulations.

For all part-time members, NILGOSC will scale membership down to its whole-time length and scale pensionable pay up to its whole-time equivalent.

The calculation below shows how we would work out whole-time equivalents for a part-time employee who worked for 5 years at 30 hours per week earning £12,000 per annum if the whole-time equivalent is 32.5 hours.
 

Classroom Assistant Example Part 1


Pensionable pay is brought up to whole-time equivalent of 32.5 hours
i.e.    £12,000 x 32.5/30 = £13,000

Membership is brought down based on a whole-time equivalent of 32.5 hours
i.e.     5 years x 30/32.5 = 4 years 225 days

 The accrued annual pension for this time would be:

= 1/80 x whole-time equivalent pensionable pay x whole-time equivalent membership

= 1/80 x £13,000 x 4 years 225 days

= £750

 The lump sum would be:

= 3/80 x whole-time equivalent pensionable pay x whole-time equivalent membership

= 3/80 x £13,000 x 4 years 225 days

= £2,250

If the same part-time employee worked for another 5 years at 30 hours per week earning £12,000 per annum with a whole-time equivalent of 36 hours, the calculation below would apply.

Classroom Assistant Example Part 2


Pensionable pay is brought up to whole-time equivalent of 36 hours
i.e.    £12,000 x 36/30 = £14,400

Membership is brought down based on a whole-time equivalent of 36 hours
i.e.     5 years x 30/36 = 4 years 61 days

 
The accrued annual pension for this time would be:

= 1/80 x whole-time equivalent pensionable pay x whole-time equivalent membership

= 1/80 x £14,400 x 4 years 61 days

= £750

The lump sum would be:

= 3/80 x whole-time equivalent pensionable pay x whole-time equivalent membership

= 3/80 x £14,400 x 4 years 61 days

= £2,250

Total benefits accrued:

Total annual pension = £750 + £750 = £1,500

 Total lump sum = £2,250 + £2,250 = £4,500