Which of the following employee benefit plans is defined by the following statement: “post-employment benefit plans under which an entity pays fixed contributions into a separate entity and will have no obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods”?

Established by the employer to provide benefits to one or more employees after the formal retirement are termed as:*1 pointPension fundTermination benefitsPost-employment benefitsPost-employment benefit plan

Employer-sponsored plans that provide pay to an employee when he/she is unable to work because of a non-work-related illness or injury are termed as _____ plans.Question 3Answera.defined benefitb.employee assistancec.defined contributiond.salary continuatione.sick leave

The benefits which are payable after the formal retirement of an employee are termed as:*1 pointShort-term employee benefitsTermination benefitsPost-employment benefitsOther long term employee benefits

Question 14Under defined contribution plan:Answer :The employer’s contribution is unknown.   The benefits payable to the retiring employees is unknown.   The amount of benefits to be received by the retiring employees depends on the amounts originally contributed plus income from investments accumulated in the fund.    The benefits of gains or risks of losses invested under the fund are borne by the employees.

Which one of the following is offered at the discretion of the employer?Question 4Answera.Quebec Pension Planb.life Insurancec.Employment Insuranced.Workers' Compensatione.Canada Pension Plan