Defined benefit schemes are traditionally associated with large corporate and public-sector superannuation funds. Essentially, the final benefit amount is calculated by several variables, including but not limited to age, time as a member or duration of employment and salary. Because the benefit is not subject to the market performance, it provides members with a degree of certainty. Usually, the benefit is corelated to a person’s final salary, for example 70% of the average of the last four years’ salary. The benefits may be made in the form of a pension or lump sum. These types of benefits a being phased out and are more of a legacy product used in the past.