TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

FINAL EARNINGS FORMULA [2 records]

Record 1 1992-02-04

English

Subject field(s)
  • Employment Benefits
DEF

A unit benefit type of defined benefit under which the earnings base for the calculation of benefits is the average of earnings over a specified period immediately before retirement.

French

Domaine(s)
  • Avantages sociaux
DEF

Formule pourcentage-salaire selon laquelle la prestation calculée en fonction du salaire moyen d'une période déterminée immédiatement avant le départ à la retraite.

OBS

L'expression "formule derniers salaires" est préférée au Québec.

Spanish

Save record 1

Record 2 1987-02-19

English

Subject field(s)
  • Employment Benefits
DEF

A benefit formula where the earnings taken into account are those in the pay period (usually a year) immediately before retirement.

CONT

(The final average earnings) formula counteracts the emphasis given to the last year of service in a final earnings benefit formula.

Key term(s)
  • final earnings formula

French

Domaine(s)
  • Avantages sociaux
DEF

Formule de prestation où les gains considérés sont ceux de la période de rémunération (habituellement l'année) précédant immédiatement la retraite.

Spanish

Save record 2

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