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LIFE INSURANCE COMPANIES

m Cubed Life Ltd.

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Tel: +27 11 340 2300
Fax: +27 11 880 8844
Address:
2nd Floor Grosvenor Cnr
195 Jan Smuts Ave
Rosebank
Johnnesburg
South Africa
Postbox:
PO Box 41259
Craighall
2024

From The Glossary »

Defined Contribution Plan:

A retirement plan wherein a certain amount or percentage of money is set aside each year for the benefit of the employee. There are restrictions as to when and how you can withdraw these funds without penalties. There is no way to know how much that will ultimately give the employee upon retiring, the amount contributed is fixed but the benefit is not.
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