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 ?
Sometimes being 'the first' to introduce a particular social reform, such as noncontributory pensions based on statutory entitlement, was a strenuous task.
A break-down of the records show 295,000 were related to state pensions, 63,000 to oneparent family payments, 15,000 to widows' noncontributory pensions and 800 to orphans contributory pensions.
The starting point for debates discussing the potential of noncontributory pensions to bridge the coverage gap is that too little is still known regarding how well universal non-contributory pensions will function in low-income countries with weak fiscal and administrative capacities (Charlton and McKinnon, 2001).
While there is growing supportive evidence about the fiscal feasibility for most countries of basic non-contributory pensions as well as a greater understanding about how benefits should be designed and even how administrations and agencies should reach-out to benefit recipients, remaining key questions relate to what form the institutional structure of the central administration of the noncontributory pension system should take and where the necessary finance should be sourced from?
Haber finds, as did contemporary observers like Louis Brandeis, that qualification for noncontributory pensions was so constrained that it amounted to a form of "peonage." Pensions were then "a tool through which [management could] exert control over their laborers." Fearful of aggressive unionization in the workers' emerging brotherhoods, railroad management threatened workers with loss of retirement funds if they struck.(4)
Retirees were to receive a noncontributory pension, calculated on length of service and wages in the last decade of employment, a formula borrowed from English railroads.
Following warnings from the company's general solicitor, PRR officials emphasized the purely voluntary nature of a noncontributory pension, which should not be "construed to give any .
"Noncontributory pensions and social protection." Paper for the series 'Issues in Social Protection'.