A scheme which you pay pension contributions to The company running the scheme then invests the money and pays you a pension when you retire An approved pension scheme has various tax exemptions
A vehicle by which an individual can make pension provision This may be either collective or individual and with or without the involvement (by means of contributions or otherwise) from the individual's employer
An arrangement, other than accident insurance, to provide pension and/or other benefits for members on leaving service or retirement and for the member's dependants in the event of death In the Family Law Acts, the term is given a very broad definition, so that it includes, not only occupational pension schemes as defined in the Pensions Act, but also retirement annuities, buyout policies and unfunded schemes