money-purchase

British  

noun

1. (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

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Example Sentences

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

From The Guardian

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

From The Guardian

Money-purchase pension schemes, unit trusts, open ended investment companies and investment trusts are not required to use any projections.

From BBC

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

From BBC

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

From Project Gutenberg