Q795
Defined Contribution scheme is also known as –
A.
Pension purchase scheme
B.
Postpone and purchase scheme
C.
Switch and purchase scheme
D.
Money purchase scheme
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Defined contribution (DC) schemes are occupational pension schemes where your own contributions and your employer's contributions are both invested and the proceeds used to buy a pension and/or other benefits at retirement.