A fund that is established for the payment of retirement benefits. Bloomberg Financial Dictionary
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pension plan ˈpension ˌplan also reˈtirement ˌplan noun [countable]
FINANCE HUMAN RESOURCES INSURANCE a system by which an employer, insurance company etc provides workers with a pension after they have made regular payments over many years:
• individuals covered by a company pension plan
• Congress has changed the laws governing private pension plans.
conˌtributory ˈpension ˌplan FINANCE HUMAN RESOURCES
a pension plan into which the employee and the employer both make payments
ˌnon-conˌtributory ˈpension plan FINANCE HUMAN RESOURCES
a pension plan into which only the employer makes payments, not the employee
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pension plan UK US noun [C] (US retirement plan)
► FINANCE a system which allows people who are working to make regular payments from their income to invest in a pension: start/take out a pension plan »
Some of the advice must have sunk in, though, as about two years ago she took out a pension plan.
pay (sth) into/put sth into a pension plan »How much should you put into a pension plan to be sure you have adequate retirement income?
»a company/personal pension plan
Financial and business terms. 2012.