Classification of defined pension funds plans

1. - Total defined benefit plans

2. - Total defined contribution plans

3. - Hybrid plans

Hybrid plans are plan where the pension benefit is the better of that provided by defined benefit or defined contribution provisions.

4. - Composite or combination plans

In composite or combination plans, the pension has both defined benefit and defined contribution characteristics.

5. - Defined benefit and contribution plans

These plans may be for different classes of employees or one benefit type may be for current employees and the other for new employees.

6. - Other type of plan