The financial encyclopedia uses cookies to improve your user experience. Find out more here!


       

 

Occupational pensions scheme
 

 

A pension scheme devised by a business organization for the benefit of employees which has satisfied the conditions which allow the employers to contract out of the state earnings-related pension scheme. Such schemes must obtain the approval both of the Inland Revenue and the state examining body known as the Occupational Pensions Board.  

Reference: The Penguin Business Dictionary, 3rd edt.