The Defined Benefits Scheme ('DBS') enables employers to provide
pensions for staff based on pensionable service and final
pensionable salary, i.e. a 'final salary' pension scheme.
The DBS has a unique way of providing these benefits which means
that even relatively small employers can establish final salary
The benefits to be provided include:
- a pension at retirement
- the option of exchanging some pension at retirement for a tax
free cash sum
- a death in service lump sum
- a spouse's pension payable on death.
Employers also have the option to provide enhanced pensions in
the event of ill-health early retirement or for the spouse of a
member who dies in service.
The benefits to be provided are subject to agreement between the
employer and the Pensions Department of the Board. This
process includes the provision of actuarial advice by the Board's
appointed actuary to help determine appropriate contribution
The Board can also consider the transfer of existing defined
benefit schemes to the DBS section of CWPF. Again this would
be subject to agreement between the Pensions Department and the
employer and the completion of a satisfactory actuarial
Please click on the link on the left to download a Nomination Form.
For further details or information, please Contact the Pensions