Which pension schemes exist?

Broadly three types, of which only one can still be newly arranged:

• Defined benefit. The benefit level is fixed in advance, based on salary and years of service. No longer available as a new scheme under the Wtp.
• Defined capital. A fixed capital sum at retirement, with which you buy a benefit. Also being phased out.
• Defined contribution. A fixed contribution is invested; your pension depends on the return. This is the standard under the Wtp, and the form Vive offers in the third pillar.

Read collective versus individual pension for the comparison.