Term:
Personal pension plans
Definition:

Access to these plans does not have to be linked to an employment relationship. The plans are established and administered directly by a pension fund or a financial institution acting as pension provider without any intervention of employers. Individuals independently purchase and select material aspects of the arrangements. The employer may nonetheless make contributions to personal pension plans. Some personal plans may have restricted membership.

Domain:
Finance
Source:
OECD Working Party on Private Pensions, 2005, “'Private Pensions: OECD Classification and Glossary, 2005 edition”, OECD, Paris
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