0 used to describe a type of pension in the UK in which the money you put in while you are working is invested, and the amount you receive when you stop working depends on how well the investments perform:
I have a money-purchase company pension scheme and my contribution is 3% of salary.
It will be a money-purchase scheme, so it will be linked to the equity market which could and should in time give a good return.
I have struggled to put £50,000 in my money-purchase pension scheme.
A rising tide of maturing money-purchase pensions will come to the market over the next few years as post-war baby boomers of my generation retire.
Anyone who knows money-purchase schemes knows that there are different impacts at different ages.
I shall deal first with the second point—payments into money-purchase schemes.
There are hundreds of thousands of people with small money-purchase pension accumulations of £40,000 or £50,000.
By what means is it possible to give a guarantee to inflation proof a money-purchase scheme, which is what the reserve pension scheme was?
Above all, the motion asks us to amend a money-purchase scheme, which by its nature is substantially unamendable.
