Automatic enrolment
A workplace pension design where eligible workers are enrolled by default and can opt out if rules allow.
Pension definitions
Pension Glossary
Short definitions for recurring pension terms used in the country profiles and pension system comparison tables.
Defined benefit pension
A pension that promises benefits using a formula, often based on pay, service, and age.
Defined contribution pension
A pension where contributions go into an account and retirement income depends on contributions, investment returns, fees, and withdrawal choices.
Contributory pension
A pension right built through contributions, insurance credits, covered work, or a similar work-linked record.
Guarantee pension
A public benefit that provides or tops up income for people with low or no pension income.
Means-tested pension
A public pension or old-age benefit where income, assets, or both can affect eligibility or payment amount.
Non-contributory pension
A pension or old-age benefit that is not earned primarily through an individual's contribution record.
Occupational pension
A pension linked to employment, often sponsored by an employer or set through collective agreements.
Portability
The ability to keep, transfer, claim, or coordinate pension rights when a person moves jobs or countries.
Qualifying period
The minimum contribution, insurance, residence, or credit period needed before a pension right can be paid.
Replacement rate
A measure comparing pension income with pre-retirement earnings.
Social assistance pension
A public old-age income support benefit aimed at people with low income or limited resources, usually financed from general public funds.
Totalization agreement
A bilateral social security agreement that can coordinate coverage, avoid dual contributions, or combine periods for eligibility.