noncontributory pension plan

(redirected from Non-Contributory Pension)
Also found in: Acronyms.

Noncontributory pension plan

A pension plan that is fully paid for by the employer, requiring no employee contributions.

Noncontributory Pension Plan

A pension where the pensioner (or employee) makes no contributions. Instead, the employer makes all contributions on the pensioner's behalf. This contrasts with most pension plans, where both employee and employer make contributions. See also: Matching Contribution, Contributory Pension Plan.

noncontributory pension plan

A pension plan in which the participating employees are not required to support the plan with contributions. Compare contributory pension plan.
References in periodicals archive ?
The Department of Social Protection spokesman confirmed non-contributory pensions such as Kathleen's are means-tested.
The offered shares were sold by MSA's non-contributory pension plan for employees, The Pittsburgh Oratory, John T.
Additional benefits include a non-contributory pension scheme, life assurance and shopping discounts.
You can tailor your rewards package to suit your individual needs, from the wide choice of available benefits -including shopping vouchers, childcare vouchers, discount deals, private healthcare options, a non-contributory pension and, of course, a reduced-rate mortgage.
The group announced that, following a 12-month review of the scheme, staff who joined after April 1 this year would no longer be able to join its non-contributory pension scheme.
But the 56-year-old judge, who was suspended on his full pounds 87,000 salary three years ago, will be able to take advantage of a special non-contributory pension fund.
The hours are great, the working practices are pleasantly lax and there's a good non-contributory pension.
The Company maintains a non-contributory pension plan covering hourly and salaried workers of a predecessor company.
At the moment, all but the very smallest employers are obliged to provide a non-contributory pension scheme for their employees, but they cannot compel them to join.
The group announced that following a 12-month review of the scheme, staff who joined after April 1 this year would no longer be able to join its non-contributory pension.
Under the agreement, Wesleyan will provide the POA with such benefits as preferential terms on selected products and services and face-to-face advice from specialist financial advisers trained on the prison service's pay and conditions and non-contributory pension scheme.
A spokeswoman for the bank said its non-contributory pension scheme was widely seen as a very attractive one compared with others.

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