How is my pension worked out for membership before 1 April 2014? We work out your pension benefits for your membership before April 2014 based on your final pay and the length of your membership when you leave or retire. The pay we use to work out your pension benefits on your membership before April 2014 is usually the pay you earned in your final year as a member, or one of the previous two years if that’s higher. And if you’re working part-time when you leave the scheme, it’s the full-time pay you would’ve got, if you’d worked full time. Final pay is made up of your normal salary plus any shift allowances, bonuses, contractual overtime and any other taxable benefit specified on your contract. It doesn’t include non contractual overtime or any additional hours worked above your contractual hours. You can give up some of your pension to get a tax free lump sum. For every £1 of pension you give up, you’ll get £12 of tax-free lump sum (HM Revenue and Customs limits apply).