DC scheme
defined contribution scheme (DC scheme) Also known as a money purchase scheme. A pension scheme where the benefits payable to an individual member are calculated by reference to contributions paid in to the scheme in respect of that member increased by the investment return achieved. At retirement the member's pension is secured by purchasing an annuity. The pension is therefore dependant on the level of contributions, investment return and the prevailing annuity rate at retirement.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

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  • defined-contribution pension scheme — DC scheme A pension scheme in which the benefits are based on the value of the contributions paid in by each member. The rate of contribution is normally specified; the amount of pension an individual will receive will depend on the size of the… …   Accounting dictionary

  • defined-contribution pension scheme — DC scheme A pension scheme in which the benefits are based on the value of the contributions paid in by each member. The rate of contribution is normally specified; the amount of pension an individual will receive will depend on the size of the… …   Big dictionary of business and management

  • defined benefit scheme — (DB scheme): An occupational pension scheme or other retirement benefit scheme which promises the member a defined level of benefit on death or retirement. Employer s contributions have then to be determined from time to time so as to cover the… …   Law dictionary

  • defined-benefit scheme — (DB scheme): An occupational pension scheme or other retirement benefit scheme which promises the member a defined level of benefit on death or retirement. Employer s contributions have then to be determined from time to time so as to cover the… …   Law dictionary

  • DB scheme — defined benefit scheme (DB scheme): An occupational pension scheme or other retirement benefit scheme which promises the member a defined level of benefit on death or retirement. Employer s contributions have then to be determined from time to… …   Law dictionary

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