Sentence examples for db schemes from inspiring English sources

Final-salary, or defined-benefit (DB), schemes are in place for long-serving workers.

Already about 70% of DB schemes are closed to new employees.

Around 4.9m British public employees are in open DB schemes, compared with just 1.3m private-sector staff.

By contrast, defined-benefit (DB) schemes promise employees a retirement income based on their pay and length of service.

For example, DB schemes in deficit could be shifted into one firm that is then allowed to go bust.

The FCA regulates advice given on transfers to personal pensions, but crucially it does not regulate advice on transfers from DB schemes to workplace DC schemes.

Studies have shown that the average American DC scheme underperforms a DB scheme by around a percentage point a year.

New hires will make their contributions to the new DC scheme, not the old DB scheme, but the state still has to cough up for existing DB benefits.

Under a DB scheme, pensions are generally linked to workers' final salaries, replacing a proportion of that income according to the number of years worked with the company.

But funnily enough, the Bank of England contributes 56.4% of its payroll to its DB scheme, which is almost entirely invested in inflation-linked bonds.

The only way someone with a more coveted final salary, or defined benefit (DB), scheme can take advantage of the new rules is to transfer their pot to a DC scheme.