money-purchase

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
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

Examples from the Web for money-purchase

Historical Examples of money-purchase

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

    Men, Women, and Gods

    Helen H. Gardener