noncontributory pension plan(redirected from Noncontributory Pension Scheme)
Noncontributory pension plan
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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.