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Dictionary definition: occupational pension scheme
- Article from:
- A Dictionary of Business
Copyright© A Dictionary of Business and Management 2006, originally published by Oxford University Press 2006. (Hide copyright information)
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occupational pension scheme (
superannuation
)
A pension scheme open to employees within a certain trade or profession or working for a particular firm. An occupational pension scheme can either be insured or self-administered. If it is insured, an insurance company pays the benefits under the scheme in return for having the premiums to invest. In a self-administered scheme, the pension-fund ...