DB Scheme

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Definitions
DB Scheme
DB Scheme Defined-Benefit Pension Scheme Pension Plan Retirement Benefits Employee Pension Earnings History Service Tenure Retirement Planning
A DB Scheme, or Defined-Benefit Pension Scheme, promises a specified pension payment, lump-sum, or combination thereof on retirement that is predetermined by a formula based on the employee's earnings history, tenure of service, and age.
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Definitions
Defined-Benefit Pension Scheme
Defined-Benefit Pension Scheme DB Scheme Employee Benefits Pension Costs Final Salary Scheme Financial Reporting IAS 19 Defined-Contribution Pension Schemes
A defined-benefit (DB) pension scheme is an occupational pension plan where the retirement benefits are predetermined by a specific formula, typically incorporating years of service and salary levels. The pension is funded accordingly, and accounting for pension costs presents specific challenges governed by Section 28 of the Financial Reporting Standard in the UK and IAS 19.
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