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English definition of “accrued benefits”

accrued benefits

noun [plural]     HR
the money that an employer owes to an employee as a pension, which is based on the amount of time the employee has worked for the employer: When the company converted to the new plan, it hurt every employee over the age of 40, because it reduced their accrued benefits.
(Definition of accrued benefits noun from the Cambridge Business English Dictionary © Cambridge University Press)
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