Practical Law UK Glossary 9-500-8614 (Approx. 3 pages)
Glossary
Past service reserve
An actuarial method for calculating the value of a member's benefits in a defined benefit pension scheme. The method uses the value of the member's accrued benefits based on his pensionable service at the calculation date and the member's projected final pensionable salary as at the date of eventual retirement or assumed earlier death or leaving service.