money-purchase

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

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Examples have not been reviewed.

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

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

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

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

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

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