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What is a final salary scheme?  
 

This is a pension scheme where the benefits are based on your length of service, and the size of your 'salary' at the time benefits are taken. This type of scheme can also be called 'defined benefit'. The definition of what counts as 'salary' differs from scheme to scheme.

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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. Part of the HBOS Group. Clerical Medical Investment Group Limited is authorised and regulated by the Financial Services Authority. These pages are intended for UK residents only. © Copyright Clerical Medical Investment Group Limited 2005.