Definition: Occupational pension plans
Access to such plans is linked to an employment or professional relationship between the plan member and the entity that establishes the plan (the plan sponsor). Occupational plans may be established by employers or groups thereof (e.g. industry associations) and labour or
professional associations, jointly or separately.
The plan may be administered directly by the plan sponsor or by an independent entity (a pension fund or a financial institution acting as pension provider). In the latter case, the plan sponsor may still have oversight responsibilities over the operation of the plan.
Organisation for Economic Co-operation and Development (OECD)/Organisation de coopération et de développement économiques (OCDE), OECD Glossaries/Glossaires de l'OCDE, Private pensions - OECD classification and glossary; Les pensions privées - Classification et glossaire de l'OCDE, Paris, 2005