Sentence examples for defined contribution scheme from inspiring English sources
For those earning more that £50,000, employers will contribute 12% towards a defined contribution scheme.
The majority, if not all, will be enrolled into a defined contribution scheme.
However, a "collective" defined contribution scheme enables savers to share risks – both of longevity and stock market fluctuations.
Tata Steel wants to shut the final salary pension scheme and replace it with a less generous defined contribution scheme.
A new system is gradually taking over that consists of a defined contribution scheme, plus a minimum guaranteed pension.
BBC employees will be given the option of moving their pension pot to a new defined contribution scheme, which does not give members a set amount each year.
Instead, the trend is towards greater emphasis on privately funded pensions.Within the private pension business itself, another significant change has been taking place: a steady shift from "defined benefit" to "defined contribution" schemes.
Figures from the Office for National Statistics show that, in 2012, 28% of employees were paying into final salary schemes, 17% were in these so-called "defined contribution" schemes, while the remainder were not contributing to any pension schemes – so around one in five employees are affected.
Increasingly, however, firms are favouring "defined contribution" schemes.
A £40,000 pension pot is actually about average for those people in the UK who have "defined contribution" schemes.
