IFoA SP4 Practice Questions - IFoA SP4 Pensions And Other Benefits Specialist Principles Exam

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A career-average revalued earnings (CARE) scheme differs from a final-salary scheme primarily because the pension is based on:

The member's highest single year of salary only The total of employer and member contributions with investment return Revalued earnings across the member's whole career rather than salary near retirement A fixed cash lump sum unrelated to salary

Correct Answer:

Revalued earnings across the member's whole career rather than salary near retirement

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