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Private pay-as-you-go pension plans are not to be confused with pay-as-you-go pension systems. The latter term refers to state pension systems funded by contributions from current workers (rather than by individual past contributions from current beneficiaries). The underlying
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With such a plan, the contributor decides how much to contribute to the fund and chooses how it is invested. Upon retirement, the contributor can have the fund balance paid in a lump sum, in monthly installments, or in a combination of the two.
20:(also called a "pre-funded pension plan") is a retirement scheme in which a contributor can either have either a regular contribution deducted from each paycheck or make a lump-sum contribution to a retirement fund.
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is applied in social insurance systems across the world.
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56:"Pay-As-You-Go Pension Plan Definition"
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35:pay-as-you-go (PAYG or PAYGO) principle
122:Retirement plans in the United States
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18:pay-as-you-go pension plan
107:Mis-sold Pensions
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