Business & Finance Question

timer Asked: Nov 16th, 2016

Question description

two people A and B have earned a basic salary of $150,000 per annum over the last year and overtime averaging $15,000 per annum. the salaries have grown for many years at 3% per annum. they are each provided with a company car with a taxable value of $45,000. last year, the basic state pension had a value of $30,000. person A is in pension scheme in which final pensionable earnings is defined as "average salary over the last five years before retirement minus 1.75 multiply by basic state pension" person B is in pension scheme in which final pensionable earning is defined as "total earnings in the year before retirement, including over trime and taxable value of a company's car" plus 0.5 multiply by basic state pension.

calculate the final pensionable earning for both?

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