Training Guides
Pension Schemes
Pension scheme provision comprises both occupational – those schemes provided by an employer or scheme sponsor – and state – those retirement benefits provided by the government. Occupational pension schemes can be broadly categorised as either final salary/defined benefit (DB) schemes or as money purchase/defined contribution (DC) schemes. State pension scheme provision comprises the basic state pension and supplementary pensions such as the second state pension (2SP), guarantee credit and savings credit. In the documents that follow we look at DB and DC schemes in a little more detail and the reasons for the marked shift that is taking place away from the former to the latter type of scheme.
We also look at the investment options that are available to DC scheme members at retirement as well as state retirement benefits, the structure of the pension fund industry and the main participants.
Gerard Hutchings, Head of Pensions Business Development
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"Trustee investment knowledge is founded upon understanding how pension schemes are structured and the way in which the pensions industry operates. In particular, Trustees need to understand the roles and responsibilities of those others within the pensions industry with whom they should be creating a working partnership to ensure the achievement of their scheme objectives." |
Training Guide Downloads
 Annuities |
State scheme provision |
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| Defined Benefit |
Defined Contribution |
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| Structure of Pensions Industry |