Definition: Voluntary occupational pension plans

Living conditions

The establishment of these plans is voluntary for employers (including those in which there is automatic enrolment as part of an employment contract or where the law requires employees to join plans set up on a voluntary basis by their employers). In some countries,
employers can on a voluntary basis establish occupational plans that provide benefits that replace at least partly those of the social security system. These plans are classified as voluntary, even though employers must continue sponsoring these plans in order to be exempted (at least partly) from social
security contributions.
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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