DC pension schemes: overview | Practical Law
This practice note examines the key points about defined contribution (DC) pension schemes, also known as money purchase schemes. As well as looking at the differences between trust-based and contract-based DC schemes, the note considers the tax rules that apply to DC schemes and the statutory definition of "money purchase benefits". A summary is also included of the key differences in the legal and regulatory treatment of defined benefit (DB) schemes and DC schemes.