Defined benefit pensions https://nationalpensionhelpline.ie/pension-ireland/things-to-know-about-defined-benefit-pension-schemes/ are a type of pension scheme that offer employees a guaranteed income in retirement, based on the amount of money they have saved up. These pensions come with a number of advantages, including the fact that employees don’t have to worry about their retirement savings falling into bankruptcy or becoming inaccessible when they need them the most. In order to set up and administer your company’s defined benefit pension scheme, you will need to contact one of the many insurance companies that specialize in this area.