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HOME / SPECIAL PENSION STATEMENT AS AT DECEMBER 31, 2013 /


PART-TIME or PART-YEAR EARNINGS

 

If you were a teacher who taught less than a full year (e.g. part-time or partial years of board approved leave), your earnings are annualized (i.e. converted to what you would have earned had you taught full-time for the entire year).


EXAMPLE A

  • the teacher has a 50% position from September 2011 to June 2012


  Sep-Dec 2013 2012-2013 2011-2012 2010-2011  2009-2010 Jan-Aug 2009  "Highest 5-year" Average
               
Actual Earnings $27,690 $70,000 $34,000 $67,000 $66,500 $39,650 Not Applicable
               
Annualized Earnings $71,000 $70,000 $68,000 $67,000 $66,500 $65,000 Not Applicable
               
Weighting 0.39 1.00 1.00 1.00 1.00 0.61  
               
Weighted
Pensionable Earnings
$27,690 $70,000 $68,000 $67,000 $66,500 $39,650 $67,768

 
PLEASE NOTE - Due to the fact that the weighting for each year is rounded for presentation purposes, the weighted pensionable earnings could vary by up to $500.



EXAMPLE B

 
  • the teacher has a fixed-term contract from September 2011 to January 2012, which equated to 50% of the school year


  Sep-Dec 2013
2012-2013
2011-2012
2010-2011
 2009-2010 Jan-Aug 2009
 "Highest 5-year" Average
               
Actual Earnings $27,690 $70,000 $34,000 $67,000 $66,500 $39,650 Not Applicable
 



 
 
Annualized Earnings $71,000
$70,000
$68,000
$67,000
$66,500
$65,000
Not Applicable
               
Weighting 0.39 1.00 1.00 1.00 1.00 0.61  
               
Weighted
Pensionable Earnings
$27,690 $70,000 $68,000 $67,000 $66,500 $39,650 $67,768


PLEASE NOTE - Due to the fact that the weighting for each year is rounded for presentation purposes, the weighted pensionable earnings could vary by up to $500.


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