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Guaranteed Pension Plan

The Guaranteed Pension Plan is a pension scheme in which you build up part of your retirement pension each year. The Guaranteed Pension Plan is a defined benefit scheme. This means that how much pension you will receive is fixed in advance.

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Balanced Pension Plan

The Balanced Pension Plan is a pension scheme into which your employer makes a contribution every year. You then use the contribution to buy a guaranteed pension. With a guaranteed pension the amount of pension you receive when you retire is fixed in advance. The actual pension amount depends on the total contributions paid in.

More about the Balanced Pension Plan