1. See NET RELEVANT EARNINGS. 2. Pensionable earnings/salary are the earnings on which pension scheme benefits and contributions are calculated as defined in the scheme rules. Normally it refers to total PAYE earnings from the employer for the relevant tax year and therefore includes bonuses, overtime, commissions and benefits in kind. Some final salary schemes may restrict ‘pensionable earnings’ to the member’s basic salary; definitions vary so full PAYE (P60) earnings are not necessarily the scheme’s pensionable earnings.