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 ?
We also have other benefits such as a noncontributory pension scheme, so the bonus isn't the only big reward that people get here.
Profits were hit by the cost of its noncontributory pension scheme, rising 14pc to pounds 33m, while investment in new branches and modernising stores meant its interest bill grew 10pc to pounds 17m.
His successor as BoE Governor can expect perks ranging from a salary in the region of a quarter of a million pounds a year, some foreign travel, plus a noncontributory pension scheme and private health insurance.