money purchase
(UK, pensions) Describing a pension scheme in which an employer agrees to provide a pension payment or lump sum on retirement that is based on the combination of the employer's and employee's contribu
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(UK, pensions) Describing a pension scheme in which an employer agrees to provide a pension payment or lump sum on retirement that is based on the combination of the employer's and employee's contributions to the scheme over the employee's working life.
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🇬🇧About British & Irish slang slang
UK and Irish slang — Cockney, Scouse, Geordie, Yorkshire, Glaswegian, Brummie, Welsh, West Country, plus Irish English. Centuries of regional dialects feeding into modern British and Irish street talk.
See all British & Irish slang slang on Slangora.
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(UK, pensions) Describing a pension scheme in which an employer agrees to provide a pension payment or lump sum on retirement that is based on the combination of the employer's and employee's contributions to the scheme over the employee's working life.
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(UK, pensions) Describing a pension scheme in which an employer agrees to provide a pension payment or lump sum on retirement that is predetermined based on the employee's length of service, earnings history and age.
- 69%
(UK, pensions) Describing a pension scheme in which an employer agrees to provide a pension payment or lump sum on retirement that is predetermined based on the employee's length of service, earnings history and age.
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(UK, pensions) A pension plan that is funded entirely by individual contributions rather than any employer contributions.
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(UK, historical) The practice, abolished in 1871, of paying money to be made an officer in the cavalry and infantry regiments of the English and later British Army, without having to wait for promotion.