A Money Purchase scheme is a type of pension arrangement in the United Kingdom.

It can either be sponsored by an employer (such as a SSAS

Small Self Administered Scheme

Small Self Administered Scheme is a type of UK Occupational Pension Scheme.Schemes are trust-based and established individually, usually by directors of limited companies for specified employees of the company. Since Pension Simplification , SSAS has been available for establishment by those who...

) or an individual arrangement (such as a SIPP

Self-invested personal pension

A Self-Invested Personal Pension is the name given to the type of UK-government-approved personal pension scheme, which allows individuals to make their own investment decisions from the full range of investments approved by HM Revenue & Customs ....

 or Personal pension, sometimes with an insurance company). Basically, with this type of arrangement a sum of money is accrued which is then used to secure an income at retirement. It is sometimes known as a Defined Contribution scheme to distinguish it from a Defined Benefit scheme where the benefits payable are linked to salary.