Management of the Existing Pension Scheme of Organisations and when desired, the amount due to each individual is credited to the individual RSA.
Defined Benefit Scheme was in existence before the introduction of the Pension Reform Act 2004. Under a defined benefit (DB) pension scheme, the amount you’re paid as pension is based on how many years you’ve worked for your employer and the salary you’ve earned. Some employers have handed over the administration of their Defined Benefit Schemes to some appointed PFAs to manage, while some were given approval to continue to manage the schemes under their management. The entitlement of any of those in the scheme will be paid according to the Scheme’s rules and regulations.