noncontributory pension plan

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Noncontributory pension plan

A pension plan that is fully paid for by the employer, requiring no employee contributions.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

noncontributory pension plan

A pension plan in which the participating employees are not required to support the plan with contributions. Compare contributory pension plan.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
This adds up to a basic non-contributory pension which the Labour Minister said stood at 360 euros.
There is also a non-contributory pension scheme and a mileage allowance.
The media should also stop indicating that military pay is poor, causing recruitment shortfalls, - a level 5 private's basic pay is over pounds 20,000 per annum; there is also a significant non-contributory pension and other benefits.
There is therefore a need for a non-contributory pension as a significant component of old age income security."
Means testing of labour income under the non-contributory pension has been relaxed but further progress would be desirable.
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.
In both South Africa and Brazil, two developing countries with the most comprehensive non-contributory pension schemes, analysis of a range of deprivation indicators shows that pension recipients have a lower level of deprivation, especially in urban areas (Barrientos et al, 2003).
You'll enjoy the time to discover the sights and sounds of foreign ports of call, get a competitive salary and leave entitlement, and there is a non-contributory pension scheme."
My first job (probably 12.5 per cent of my working life) was not particularly well paid, but in compensation, there was a non-contributory pension scheme.

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