Definition: Separate accounts

Living conditions

A pension fund that is legally segregated from both the plan sponsor and a financial institution that acts as the manager of the fund on behalf of the plan member.
Source:
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
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