Government Employee Pension Fund As A Defined Benefit Fund

What does it mean, the GEPF is a defined benefit fund, as opposed to a defined contribution fund? GEPF is a defined benefit fund, not a defined contribution fund. This means that benefits are calculated using fixed formulas, based on length of service and final salary, as defined. Therefore, unlike a defined contribution fund, the benefit eventually payable to a member is not the sum of contributions made by a member plus growth. There is no ring-fenced amount per member in GEPF.