A "contribution pension" is a type of retirement savings plan where individuals and their employers make regular payments into a fund. These contributions grow over time and are used to provide income during retirement. Full definition
I will contribute to an RRSP, and a defined contribution pension plan at work. (ourbigfatwallet.com)
It is a defined contribution pension plan with some differences that make it simpler than a traditional plan. (manulife.ca)
Under the reforms, those with pension pots held in defined contribution pension schemes are no longer required to use it to buy an annuity at all. (politics.co.uk)