An agreement in writing whereby the employee forgoes part of his/her future earnings in return for a corresponding payment by the employer into a pension scheme.

Giving up part of one's salary on the understanding that one's employers will use the money forgone to buy pension or life assurance benefits.

This is a written agreement between the member and their employer where the member agrees to have their wages cut by a certain amount. The employer then puts this amount into the pension scheme for the employee. This is also called salary sacrifice.

the act of renouncing; sacrificing or giving up or surrendering (a possession or right or title or privilege etc.)