Accounting MCQs FPSC Past Papers Pakistan Military Accounts Department (PMAD) Senior Auditor (SA)

Which of the following is not a characteristic of a defined contribution pension plan?

  • The benefit of gain or risk of loss from assets contributed to the pension fund are borne by the employee
  • The accounting for a defined contribution plan is straight forward and uncomplicated
  • The employers contribution each period is based on a formula
  • The benefit to be received by employees are usual determined by employer’s three highest years salary defined by terms of the plan
  • D
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