defined-contributionadjective [ before noun ]
ukusHRused to describe a pension arrangement in which the amount paid into the pension plan is fixed but the value of the pension that is received may change, according to how the money in the plan was invested:
a defined-contribution pension/plan/scheme
defined contribution
noun [ C ]
Many firms have closed schemes under which employees would receive retirement benefits based on final salaries in favour of making defined contributions to employees' pension funds.