100. The pensionable earnings of a contributor for a month shall be calculated by multiplying his unadjusted pensionable earnings for such month by the ratio that the average of the Maximum Pensionable Earnings for the year in which a benefit becomes payable under this act or under a similar plan, and for each of the two preceding years, bears to the Maximum Pensionable Earnings for the year that includes that month.
In the case of a benefit that becomes payable in 1967, the average is established by taking into account only one preceding year.
1965 (1st sess.), c. 24, s. 114.