Defined contribution pension scheme: Difference between revisions
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Such schemes are by definition funded. | Such schemes are by definition funded. | ||
Also known as money purchase schemes. | Also known as ''money purchase'' schemes. | ||
Revision as of 13:12, 24 October 2022
(DC).
A pension scheme where benefits are based on how much money has been paid into the scheme and the investment returns earned, a significant part of the sum achieved often being invested in an annuity at market rates at - or soon after - retirement.
Such schemes are by definition funded.
Also known as money purchase schemes.
