money-purchase

British

noun

(modifier) relating to a pension scheme in which both employer and employee make contributions to a fund that is used to buy an annuity on retirement. The amount paid as a pension depends on the size of the fund

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Starting this October, all workers without a company pension will progressively be enrolled automatically into money-purchase funds.

From The Guardian • Jul. 31, 2012

Three reports have exposed the scale and secrecy of charges in money-purchase pension schemes.

From The Guardian • Jul. 31, 2012

New joiners to the BBC have, since late 2010, only been offered membership of a money-purchase scheme.

From BBC • May 23, 2012

The custom of money-purchase to the father of the bride was admitted.

From Men, Women, and Gods And Other Lectures by Gardener, Helen H. (Helen Hamilton)

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023