Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Defined benefit definition

What does Defined benefit mean? In legal practice, defined benefit (DB) refers to occupational pension benefits fixed by a formula—commonly based on pensionable salary (final salary or career average) and length of service—rather than by the amount of contributions paid or investment performance. The term is used and recognised in UK pensions legislation (including the Pensions Acts and related regulations) and in Ireland (Pensions Act 1990), with broadly consistent usage across England & Wales, Scotland, Northern Ireland and Ireland. Key features include: the sponsoring employer bears the funding and investment risk; trustees obtain regular actuarial valuations; and any deficit must be addressed through...

DB Occupational Pension Scheme Transfer-Out to UK Receiving Arrangement: Member Application and Discharge Precedent with Due Diligence Questionnaire (Conditions for Transfers Regulations 2021) and GMP Equalisation

Published by a LexisNexis Pensions expert

Precedents

Name: ________________________________ Date of Birth: ________________________________

Membership Number: __________________ National Insurance Number: ____________________

Company Name: ________________________ Address: ____________________________________

Date Joined Scheme: ___________________ Date of Leaving: ____________________________

To the Trustees of the [ insert name of scheme ] Pension scheme (the ‘Scheme’). I have benefits within the Scheme and apply to move the value of those benefits from the Scheme as outlined below. This also covers any amounts that would be paid from the Scheme to my dependants or beneficiaries if I were to die. I confirm I have received a statement of entitlement for my Scheme benefits showing the cash equivalent transfer value (CETV) as at my guarantee date. I wish to transfer my benefits to the Receiving Arrangement(s) listed here:

Name of Receiving Arrangement: ________________________________

Address of Receiving Arrangement: ________________________________

HMRC Registration Number: ________________________________

DECLARATIONS

Decision to transfer out

• The choice to transfer my benefits to the Receiving Arrangement is mine alone, and I have not been given any advice by the Scheme or...

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Caspar McConville

Baker McKenzie

Caspar is a Senior Associate in Baker McKenzie's Pensions Department and has practiced pensions law since qualifying in 2009. Caspar advises both pension scheme trustees and sponsoring employers in a variety of industries on the legal issues arising in relation to occupational pension schemes. These can range from individual member queries and complaints to regulatory considerations, issues relating to compliance with laws, and advising on transactions. He is also a member of the Association of Pension Lawyers.Caspar has a particular focus on issues relating to pension scheme investments, including reviewing contracts for standalone investments of many types, reviewing insurance contract-based "platform" arrangements and considering terms of discretionary investment management agreements. He also has significant experience of asset-backed funding arrangements, flexible apportionment arrangements and parent company guarantees (including Pension Protection Fund standard form guarantees)....

Web page updated on 27/05/2026

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