career average revalued earnings scheme
career average revalued earnings scheme / CARE scheme
A type of defined benefit pension scheme (defined benefit scheme) in which the member's pension at retirement is calculated using their average salary over the entire period of their service with the employer. In making the calculation, the member's salary is revalued to take account of the effects of inflation.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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