IAI SP4 Practice Questions - IAI Subject SP4 Pensions And Other Benefits Exam

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A DB scheme has an accrual rate of 1/60th of final pensionable salary per year of service. A member retires with 30 years of service and final pensionable salary of Rs 800,000. What is the annual pension?

Rs 480,000 Rs 133,333 Rs 240,000 Rs 400,000

Correct Answer:

Rs 400,000

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