75 One of your clients recently switched jobs. Under the terms of his employment, he is entitled to join the company's p

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75 One Of Your Clients Recently Switched Jobs Under The Terms Of His Employment He Is Entitled To Join The Company S P 1 (35.08 KiB) Viewed 135 times

75 One of your clients recently switched jobs. Under the terms of his employment, he is entitled to join the company's pension plan after a six-month probation period. His company has a defined contribution pension plan (DC Pension Plan). His previous employer had a defined benefit pension plan (DB Pension Plan). Your client is not too clear about the differences between the two types of pension plan and has come to you for clarification. What would you tell your client? Oa) b) In a DC Pension Plan, the employee is assured of a guaranteed pension amount based on a well-defined formula In a DC Pension Plan, the employee's pension will depend on the investment return on the contributions made to the plan. In a DB Pension Plan, investment risk lies jointly with the employer and employee. In a DB Pension Plan, employees have a say in how their contributions are invested. Oc) Od)