Definition
Defined Benefit Fund (Long Service)
A defined benefit fund is a fund that promises to pay each participating employee their entitlement when they take long service leave, and derives the contribution that needs to be made by each participating employer according to the profile of the employees. It is different to an accumulation fund that specifies a fixed amount for the employer to contribute.
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In some Australian industries, long service leave entitlements can be accrued through continuous service in an industry.
![Portable long service schemes]()
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