bobby age 54 worked for cairns airlines for 15 years he earns 450,000 per year and...
Homework Answers
Answer: As per defined benefit pension plan employee is benefited with the amount that is calculate based on service he have done in the organization and amount of salary he is getting.
1) on the basis of last drawn Yearly salary
Accrued Benefit= 1.5 x Year of Service x Salary per annum
= 1.5 x 15 X 450000
= 10125000/-
2) on the basis of last drawn monthly salary
Accrued Benefit= 1.5 x Year of Service x Salary per month
= 1.5 x 15 X 37500
= 843750/-
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bobby age 54 worked for cairns airlines for 15 years he earns
450,000 per year and...
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