A scheme to which the employee contributes to provide retirement and/or death benefits. Employers can contribute to personal pension schemes also but are not obliged to do so. A personal pension scheme operates as a money purchase scheme. See also group personal pension plan (GPPP).
Related links
multi-employer scheme (multi-employer pension schemes)
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.