For the calculation of some Scheme benefits, including a Retirement benefit, Final Average Salary is used.
Final Average Salary is the average of three salaries, being:
The salary you were earning on the date you ceased employment (Scheme exit date)
The salary on 31 December prior to your Scheme exit date; and
The salary on 31 December prior to (2) above.
For members who have reached their Early Retirement Date, the estimated Retirement benefit shown on your statement has assumed 30 June as your Scheme exit date.