The annual rate at cessation is a members actual, annual salary on their last day of pensionable employment. For example, a member working part time retired on 31 May 2019. They received a pay rise on 1 April 2019 from £14,000 to £15,000. Their annual rate at cessation would therefore be £15,000 as this is their actual annual salary on their last day of employment.
The annual rate at cessation should not be confused with the whole time equivalent rate if part time, or the Total Pensionable Pay (TPP) figures from the three years prior to the members retirement.
Keywords: ARC, Annual rate at cessation, cessation