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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Scheme Member | Types of Pension Scheme | What is a career average revalued earnings scheme?
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What is a career average revalued earnings scheme?
This Factsheet looks at the variations of the career average revalued earnings pension scheme (CARE scheme) that have developed to meet the changing priorities of employers in an ever more complex world.
A CARE scheme is a type of defined benefit scheme that uses your averaged pensionable earnings over the lifetime of your active scheme membership. Therefore, the definition of your pensionable earnings is important in this type of scheme.
Find out what an accrual rate is, and see worked examples of CARE schemes
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To find out more, choose one of our free Factsheets on the right to match your category of membership.
Not sure which category of member you are? See our definitions:
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See our Glossary for definitions of phrases in our Factsheets
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This Factsheet is not applicable to members of Money Purchase schemes
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