A pension provision whereby employees who change jobs can transfer the lump-sum value of the pension that they have earned to a locked-in registered retirement savings plan or to their new employer's pension plan is referred to as which of the following?

Question

Quizplus · Accepted Answer

Portability refers to the ability of an employee to transfer their pension benefits to another plan or account when changing jobs. This provides flexibility and continuity of retirement savings for individuals who may switch employers multiple times during their career.

A Pension Provision Whereby Employees Who Change Jobs Can Transfer