Individual Retirement Pension (IRP) Plan is a retirement pension plan that is established to accumulate and manage through the employee's retirement accounts. An IRP allows the employee to deposit spare cash to directly manage and obtain tax credit benefits, or a lump-sum retirement benefits (Defined Benefit (DB) Plan, Defined Contribution (DC) Plan, and Individual Retirement Pension (IRP) Plan) received through early payment, or when retiring or changing a job. (Refer to the Pension Plan (or Scheme))
Related Definitions in the Project: The Commercial Definitions
