MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.

20th August 2017
:: Scheme Member | Types of Pension Scheme | What is an underpin?

What is an underpin?
 
A pension scheme may have its main element as either money purchase or defined benefit, but the sponsoring employer could have chosen to give scheme members the ‘backup’ of an ‘underpin’.
 
In both cases (whether the main element is money purchase or defined benefit), the scheme is treated as a defined benefit scheme in the way it operates, but the underpin can be created in different ways.
 
In its simplest format, the underpin provides you with two alternative pensions from the same pension scheme.
 
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:
 
 
 
 
 
See our Glossary for definitions of phrases in our Factsheets
       
 
 
 
 
 
  Defined Benefit scheme members
 
What is a pension scheme? - for Active Members of Defined Benefit Schemes
What is a pension scheme? - for Preserved Members of Defined Benefit Schemes
What is a pension scheme? - for Pensioner Members of Defined Benefit Schemes
       
 
  Money Purchase scheme members
 
What is a pension scheme? - for Active Members of Money Purchase Schemes
What is a pension scheme? - for Preserved Members of Money Purchase Schemes
What is a pension scheme? - for Pensioner Members of Money Purchase Schemes
 
     

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