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A 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.
Consider the following statements regarding ‘Social Cost of Carbon (SCC)’?
1. It is the economic damage that would result from emitting one a...
Who was the last emperor of the Shunga Dynasty in ancient India?
Who was the Prime Minister of New Zealand, who gave the resignation recently?
Which company recently received SEBI approval to operate as a research analyst?
What is India’s rank in Global Hunger Index (GHI) 2021 which is released by Concern Worldwide and German organisation Welt Hunger Hilfe?
Recently Reserve Bank of India (RBI) has lifted its three-year ban from which Mercantile Bank on opening new branches with effect from October 21, 2022.
SEBI has reconstituted its alternative investment policy advisory committee, which advises the capital markets regulator on a range of issues that impac...
What unique tribute was Shah Rukh Khan honored with by the Grevin Museum in Paris?
Recently, which state government has announced that state ministers will be responsible for paying their own Income Tax?
Which country has become the first country in the world to ban thin plastic bags?