Definition: Defined benefit pension plans

SNA 1993

Defined benefit pension plans are those in which the level of pension benefits promised to participating employees is guaranteed; benefits are related by some formula to participants' length of service and salary and are not totally dependent on either the participants' contributions or the assets in the fund.
Source:
United Nations, "System of National Accounts (SNA) 1993", § 13.78, United Nations, New York, 1993
Created:
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