pension contribution
Future fund payment
A pension contribution is money paid into a retirement fund, either by an employee through payroll deductions or by an employer on the employee's behalf.
Contributions accumulate over working years and determine the eventual retirement benefit: Her employer matches pension contributions up to six percent of salary.
The term appears frequently in discussions of compensation packages and retirement planning.
- retirementLeaving the workforce permanently
- retirement ageStandard work-ending milestone
- savingsAccumulated money kept
- rainy day fundMoney saved for emergencies
- 401kEmployer-sponsored retirement savings
defined benefit · paycheck · take home pay · deduction · payroll deduction · employer · employer match · match · fund · nest egg · monthly · withholding · payroll · benefits · social security · annuity · superannuation · vesting
pension contributiondiscretionary spending
Non-obligatory personal expenditures
consumer spending · impulse purchase · spending spree · splurge · living expenses
pension contributionpension withdrawal
Taking retirement account money
pension payout · retirement income · drawdown · early withdrawal
pension contributioncredit card debt
Money owed on plastic
overspending · living beyond one's means · borrowing · consumer debt · loan
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