salary-related scheme


salary-related scheme
A pension scheme providing benefits calculated by reference to a member's salary at or shortly before the date of retirement, death or leaving service. The employer is usually required to make contributions to a salary-related scheme to ensure that the scheme has sufficient assets to meet the benefit liabilities. A final salary scheme is a form of a salary-related scheme and most defined benefit schemes are salary-related schemes.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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