Managing My Money Glossary
Glossary of terms used in Managing My Money.
Thursday, 2 May 2024, 10:43 PM
Site: Open Learning
Course: Managing my money (MMM_1)
Glossary: Managing My Money Glossary
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Defined benefitDescribes a pension scheme where the pension is worked out according to a formula, usually linked to pay and length of time in the scheme. |
Defined contribution scheme/Money purchase schemeDescribes a pension scheme where the pension depends on the amount paid in, how the invested money grows, and the amount of pension that can be purchased from an insurance company at retirement. |
DividendsThe part of a company's post-tax profits distributed to shareholders, usually expressed as an amount per share. |