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What is a defined benefits scheme?  
 

A defined benefit scheme, also known as a final salary or salary-related scheme, provides retirement benefits which is based on your length of service and salary. The definition of what counts as salary differs from scheme to scheme and is defined by the scheme rules. Examples include:
•    Your final salary immediately before you retire
•    Your salary at some point in the years leading up to retirement
•    Your average earnings during your period of employment

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Issued by Clerical Medical Investment Group Limited. Registered Office 33 Old Broad Street, London EC2N 1HZ. Registered in England and Wales, Registered No. 3196171. Clerical Medical Investment Group Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. These pages are intended for UK residents only. Clerical Medical is an introducer of Scottish Widows products. The firms are regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Scottish Widows plc. Registered in Scotland No. 199549. Registered Office in the United Kingdom at 69 Morrison Street, Edinburgh EH3 8YF. Telephone: 0845 767 8910.