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Start learning 50% faster. Sign in nowA Pension plan be either a defined benefit plan or a defined contribution plan. · A defined benefit plan is one which gives guaranteed retirement benefits irrespective of the returns generated by the pension fund. This is type of pension plan is usually funded by employers for its employees with retirement pay-outs as per a set formula based on salary, employees age, tenure of service. As such, here the amount of pension on retirement is already known. · A defined contribution plan is one in which the pension depends on the contributions made and the return generated on the investment made of those contributions. In this plan, the contribution made for the pension fund is defined or fixed. For example NPS or EPF where a fixed amount is contributed every month from the salary.
Which of the following gases in air is responsible for the discoloration of Brass?
Which of the following is a non-metal required by the human body?
Which state hosts the Nehru trophy boat race ?
What is the objective of the Annual Mass Drug Administration (MDA) Campaign recently launched by the Uttar Pradesh government, and when is it scheduled ...
What is the tenure of the Panchayati Raj institution?
Who among the following founded a suburban township near Vijayanagara, called Nagalapuram, after his mother?
Who among the following devised the system of ‘Subsidiary Alliance’?
The First Human Development Report was published by the United Nations Development Programme (UNDP) in the year _______.
Consider the statement in the context of Amphan Cyclone.
1. Amphan affected the Sundarbans, a mangrove area around the India-Bangladesh border.
Hari Prasad Chaurasia is a notable exponent of which musical instrument?