Definition: Voluntary personal pension plans
Participation in these plans is voluntary for individuals. By law individuals are not obliged to participate in a pension plan. They are not required to make pension
contributions to a pension plan. Voluntary personal plans include those plans that individuals must join if they choose to replace part of their social security benefits with those from personal pension plans.
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