A pension provision whereby employees who change jobs can transfer the lump sum value of the pension they have earned to a locked-in RRSP or their new employer's pension plan is

Question

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The term used to describe this type of pension provision in the question is "portability." Portability allows employees to transfer the lump sum value of their pension to another plan or account, such as a locked-in RRSP or their new employer's pension plan, when they change jobs. This enables employees to continue building on their pension savings without losing the pension benefits earned at their previous employer.

A Pension Provision Whereby Employees Who Change Jobs Can Transfer