Our schemes
One trust. Two powerful ways to save.
Mukuba Pension Trust administers both a Defined Benefit and a Defined Contribution scheme — each designed to provide a secure foundation for retirement, suited to different member circumstances.
Understand your scheme
Defined Benefit vs Defined Contribution
The type of pension scheme you belong to determines how your retirement benefit is calculated. Both are administered by Mukuba — but they work differently.
Defined Benefit
A guaranteed income for life.
Your pension is calculated using a formula based on your years of service and your salary at or near retirement. The fund guarantees this benefit regardless of investment performance. You do not bear the investment risk.
- Predictable retirement income
- Employer bears investment risk
- Based on service and salary
- Typically no individual account
Defined Contribution
Your pot, growing over time.
Contributions from you and your employer go into your individual account. Your retirement benefit depends on how much was contributed and how your investments performed. You share in the investment returns.
- Individual savings account
- You can track your balance
- Investment choice [CONFIRM]
- Benefit depends on contributions & returns
Which scheme am I in?
Your scheme membership is determined by your employment terms and when you joined. Your annual benefit statement will show whether you are a DB or DC member. If you are unsure, contact us and we'll confirm your membership details.
Ready to understand your pension?
Whether you're in DB or DC, our team can explain your benefits and what to expect at retirement.