What are Defined Benefit (DB) and Final Salary Pension schemes?
These are usually workplace pensions arranged by an employer. They're sometimes called 'final salary' or 'career average' pension schemes.
In the case of pension schemes like these, how much an employee gets depends on their pension scheme's rules, not on investments or how much they've paid in. These workplace pension schemes are usually based on a number of things, for example salary and how long an employee has worked for their employer.
The {{ourName}} Master Trust is not a 'final salary' nor a 'career average' pension scheme it is a defined contribution scheme. More info - https://www.gov.uk/pension-types