Hybrid scheme

An occupational pension scheme (www.practicallaw.com/8-107-6900) that is neither a pure defined benefit (DB) scheme (www.practicallaw.com/0-107-7545) nor a pure money purchase scheme (www.practicallaw.com/0-107-6857). Hybrid schemes usually have different sections in which members accrue benefits on either a DB or money purchase basis, but in some instances members accrue both types of benefits at the same time (for example, a DB scheme with a money purchase underpin).

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