You didn't need to clarify.to clarify partner earning EUR 50K has a Defined Benefit Pension scheme
Having worked for 40 years. Usually 1/40 of final salary for each year worked or 1/40 of salary at end of each year then all years added to give total salary. Percentage of State pension is then deducted to give a final pension. This should be explained in your annual benefit statements. If you take a tax free lump sum the pension is reduced.Usually the DB scheme offers a pension of [2/3 salary]
Sorry stupid me meant to say 1/60th per year in prev post. Tired when posting late at nightI could be wrong but I think the normal accrual rate is 1/60th per year for most schemes. Meaning 40/60 or 2/3 final salary after 40 years. Fair play if you are on a scheme that accrues at a rate of 1/40th!
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