Overwhelmed by all the pension jargon? Fear not, our pension glossary has you covered. All the important terms and acronyms explained right here.
What is an Occupational Pension?
An occupational pension scheme is a scheme set up by an employer to provide a pension to employees. Occupational pension schemes can be either defined-contribution (money-purchase) schemes, defined-benefit (final-salary) schemes or a mixture of the two, known as hybrid schemes.