Defined Contribution scheme is also known as

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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

Answer: Option D

Solution (By Examveda Team)

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.

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Defined Contribution scheme is also known as –

Solution (By Examveda Team)

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