A pension scheme that pays a retirement income based on your salary and how long you’ve worked for your employer.
Defined benefit pensions include ‘final salary’ and ‘career average’ pension schemes. Generally, these are now only available from public sector or older workplace pension schemes.
Defined benefit pensions usually provide a pension income to a partner, or another financial dependant, after you die. This income will be taxed as earnings.
As well as an income, a lump sum can also sometimes be paid. This is often if you die within a specified period of time from when you started to receive the income. This is known as a pension protection lump sum. This would be paid tax-free if you die before the age of 75, otherwise the person(s) receiving it will be taxed.
It’s worth checking with the pension scheme administrators, as the amount and who it’s paid to will depend on the scheme rules.