I keep getting this 'Divide by zero error encountered' error message, can someone please help me correct this?

Increase =

CASE

WHEN sp.AccessLevel = 1

THEN NULL

WHEN ps.LastAnnualizedPayRate = 0

THEN 0

WHEN ps.LastAnnualizingFactor = 0

THEN 0

ELSE CONVERT(decimal(12,2), ROUND((ps.PayRate - (ps.LastAnnualizedPayRate /

ps.AnnualizingFactor)), 2))

END,