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Noncontributory Pension Plan
(redirected from Non-Contributory Pension Scheme)

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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.


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The company also continues to run a final salary, non-contributory pension scheme open to new starters.
Mayfield said the total value of the perks, on top of their salary, that staff would receive was more than £300m, as the group also made an £83m payment into the staff's non-contributory pension scheme and handed over £60m to finance leisure benefits ranging from subsidised holiday homes to sports clubs.
Chairman Charlie Mayfield praised staff, known as partners, who all have a stake in the business and who receive generous bonuses from annual profits as well as a non-contributory pension scheme.
 
 
 
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