What Does Accrued Benefits Mean?

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What does Accrued Benefits mean? Read on to discover the definition & meaning of the term Accrued Benefits - to help you better understand the language used in insurance policies.

Accrued Benefits

Accrued Benefits

Total amount of a pension plan as on a specified date, whether or not the employee is eligible to access it. Accrued benefits are determined in accordance with the terms of the pension plan, and are based on the plan participant's salary package and period of his or her service to date.

We hope the you have a better understanding of the meaning of Accrued Benefits.

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