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Let's Talk Money: What is a 'defined benefit' pension plan?
‘Defined benefit’ pension plans are a type of pension plan that can be set up by employers. But how do they work? Find out in Let's Talk Money, our bite-size video series.
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Defined benefit plans aren't the only type of plan out there. 'Defined contribution' (also known as 'money purchase') pension plans are the most common type these days. Want to know more about how they work? You can visit MoneyHelper.
The information here is based on our understanding in July 2025 and shouldn’t be taken as financial advice.
Your own personal circumstances, including where you live in the UK, will have an impact on the tax you pay. Laws and tax rules may change in the future.