Login icon Login
Phone icon +61 1300 833 137

Defined benefit plan

HR Glossary

Defined benefit plan

A superannuation scheme in which the employer pays a set amount at the end of an employee’s tenure, based on their age, length of service, and average salary during work. This is distinct from an accumulation plan which provides a retirement payout based on investments (superannuation contributions) and investment returns.

< Back to Glossary Terms

 

Let us help you get things started.

Call +61 1300 833 137 or

Request a demo

We will always respect your privacy. We will treat your personal details with the utmost care, and will never sell your information to any third parties. If you choose to receive occasional updates and advice on how to grow your business you can unsubscribe at any time. View our Privacy Policy here.