A pensionable salary is the salary that your contributions to the retirement fund are based on – the pensionable salary may be different for each employer. It could be based on a percentage of the total cost to the company (TCTC) or on your basic salary.
Your employer may have implemented a risk salary, which is the salary that your risk-benefit premiums and potential risk-benefit covers are based on. It may be different to the pensionable salary declared.
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