defined benefit
noun/dɪˌfaɪnd ˈbenɪfɪt/
/dɪˌfaɪnd ˈbenɪfɪt/
- a fixed amount of money that will be paid by a pension plan, especially when this amount is based on your salary at the end of your working life and the number of years you worked
- Companies are closing their defined benefit pension plans to new entrants.
- If you are in a defined benefit fund, think carefully before leaving it.
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defined benefit