Accrual rate

This rate is set out in a pension scheme’s regulations and determines how quickly a member’s pension grows. Most are written in the form of 1/n (where n is a figure such as 50 or 60) multiplied by pensionable pay and in those cases the smaller the n, the more valuable the rate is.

For example, the accrual rate for the FPS 2006 is 1/60.