[ adj ] entitled to receive a pension <adj.all> a pensionable employee
Personal pension contribution limits start at 17.5 per cent of net relevant earnings (equivalent in this context to pensionable pay) for employees up to age 35, and rising to 40 per cent for employees age 61 and over.
The number of people of pensionable age rose 16 per cent between 1971 and 1991 and will increase a further 38 per cent - to 14.6m - by 2031.
The ceiling on pensionable salary for the fiscal year beginning April 1992 will be raised to Pounds 75,000 from Pounds 71,400, according to calculations by Scottish Provident.
PRP, which is often not pensionable and moves with cash flow, gives employees an indirect stake in decision taking.
Pensions legislation due to be announced in the Queen's speech next week will equalise the pensionable age for men and women at 65, although the full effect will not be felt for a quarter of a century.