What is a Final Salary?

The final salary is given out to a person when he’s entering retirement and of course this sum of money depends on the length of time he worked for that specific company. A person could get two types of final salaries. The first one depends the total earnings within a year in any of the five years before a person goes in to retirement. And the second category depends on the average earnings for three years or more in a row ending within ten years of retirement. For example if a person has ownership of a company of 20% then his final salary will be calculated with the second category.