Salary-related scheme

A pension scheme providing benefits calculated by reference to a member’s salary at or shortly before the date of retirement, death or leaving service. The employer is usually required to make contributions to a salary-related scheme to ensure that the scheme has sufficient assets to meet the benefit liabilities. A final salary scheme (www.practicallaw.com/A36092) is a form of a salary-related scheme and most defined benefit schemes (www.practicallaw.com/0-107-7545) are salary-related schemes.

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