What Is Pension (Occupational)? | HR Glossary | BambooHR
A retirement savings arrangement, often supported by employer contributions, for employees' later life.
An occupational pension is a scheme that helps employees save for retirement, typically funded by contributions from both employee and employer and, in many cases, supported by tax relief.
A good pension is a valued part of the reward package, supporting long-term financial security and helping employers attract and retain staff.
Employers must understand their contribution and administration duties, which increasingly include automatic enrolment obligations.
