9. Which of the following about superannuation or pension funds is NOT correct?

Select one:

a. For a defined benefit scheme, the amount of the member's benefit at maturity depends on the investment performance of the fund

b. The majority of fund members make regular contributions to their superannuation fund over their working life

c. A capital guaranteed superannuation fund assures contributors that they will at least receive back their value of their investment

d. A defined contribution or accumulation fund involves risk for the member as there is no defined payout

e. It is reasonable for a person nearing retirement to adopt a conservative strategy for their superannuation fund