noncontributory pension plan

(redirected from Non-Contributory Pension Schemes)

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 Ralphs are in the fortunate position of both working for banks that run non-contributory pension schemes.

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