There are two types of pension plan: defined contribution plans and defined benefit plans. But what are the differences between them? And does the type you have affect how you can take your money? We’ve got some answers for you right here. What is a defined contribution plan?
Defined contribution (DC) – or ‘money purchase’ – pension plans are the most common type of plan nowadays. All personal pension plans and most workplace ones are DC plans.
A DC plan is something you pay into. Your employer usually will too if you’ve got the plan through your job. You […]
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