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Defined Contribution Pension Plan

Last Updated: November 15, 2006 Related resource areas: Personal Finance


A type of pension to which a worker and/or worker’s employer contributes to an account in the worker’s name and the amount received at retirement is based on the amount contributed and investment gains and losses. There is no formula to calculate future benefits. Defined contribution plans are used increasingly by employers instead of defined benefit plans.


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Financial Security: Estate Planning, Financial Security: Retirement Planning, glossary

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