Accrual rate is the fraction used to express the rate of build-up of a final salary pension scheme fund. Sixtieths and eightieths are the most commonly found rates. Therefore, if you are a member of a sixtieth scheme, the accrual rate is 1/60th of your final salary per year. On this basis if you were a member of the scheme for forty years you would...
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http://www.encyclo.co.uk/local/20416
The rate of build-up of a pension in a scheme where the calculation is based on salary. The accrual... <a target=_blank href='http://www.finance-glossary.com/terms/accrual-rate.htm?id=1805&ginPtrCode=00000&PopupMode=false' title='Read full definition of accrual rate'>more</a>
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