Article II 1.08 Basis for Calculation of Benefits

Benefits, with the exception of transfer values, are calculated on the basis of the highest of the following amounts at the time of termination of membership:

a) for members who joined the Fund on or before 31 December 2011:

i) the reference salary corresponding to the remuneration for 40 hours' work per week;

ii) 10/7 of the reference salary corresponding to 99.35% of the midpoint of grade 1 of the CERN salary scale.

b) for members who joined the Fund on or after 1 January 2012:

i) the average of the last 36 months' reference salaries, each corresponding to the remuneration for 40 hours' work per week, derived from the salary scale effective at the time of termination of membership;

ii) 10/7 of the reference salary corresponding to 99.35% of the midpoint of grade 1 of the CERN salary scale.

Benefits thus calculated shall be reduced in application of Article II 1.13, as appropriate.

 

Article II 1.13 Reduction of Benefits 

Where during the period of membership a payment has been made into another pension scheme (Article II 1.10) or where the contribution has not been continuously based on the reference salary relative to the member's remuneration for 40 hours' work per week as provided for in Article II 1.03, the period of membership used in the calculation of benefits, at the time they become due, shall be equal to the total reckonable period of membership multiplied by the following ratio: