Which of the following types of pension plan, with fixed payouts, is falling out of use?
A) contributory plan
B) registered retirement savings plan (RRSP)
C) defined benefit plan
D) defined contribution plan

Question

Quizplus · Accepted Answer

Defined benefit plans have been falling out of use in recent years, as employers shift to defined contribution plans which are less expensive to administer and transfer the risk and responsibility of retirement savings to employees. Contributory plans and RRSPs are still commonly used, but defined benefit plans are becoming less common.

Which of the Following Types of Pension Plan, with Fixed