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MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
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:: Scheme Member | Types of Pension Scheme | What is a pension scheme?
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What is a pension scheme?
The term ‘pension scheme’ is referred to throughout Government legislation and refers to an arrangement that provides benefits on death, serious ill-health (terminal illness to you and me), ill-health or on retirement having reached a particular age (such as normal pension age).
The benefits available from a pension scheme commonly take the form of a regular payment, usually monthly, or the payment of lump sums. A pension scheme can provide one or more, or any combination of these benefits.
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To find out more, choose one of our free Factsheets on the right to match your category of membership.
Not sure which category of member you are? See our definitions:
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See our Glossary for definitions of phrases in our Factsheets
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