Definition of noncontributory in English:
2(Of a pension or pension plan) funded by regular payments by the employer, not the employee.
- Even in a non-contributory scheme, the employer's payments are not bounty.
- ‘We have to be satisfied that people are not disposing of capital for the sole purpose of obtaining a non-contributory pension from the department,’ said the spokeswoman.
- But in this job I qualified for a non-contributory pension scheme from the start, and if I work until I'm 65, it should be worth £100,000 on current predictions, and I can take up to half of that as a lump sum.
Definition of noncontributory in:
- British & World English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Australia
Most popular in Malaysia