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Meaning of “accrued benefits” in the English Dictionary

"accrued benefits" in Business English

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accrued benefitsnoun [plural]

uk   us   HR
the ​money that an ​employerowes to an ​employee as a ​pension, which is ​based on the ​amount of ​time the ​employee has ​worked for the ​employer: When the ​companyconverted to the new ​plan, it hurt every ​employee over the age of 40, because it ​reduced their ​accruedbenefits.
(Definition of accrued benefits from the Cambridge Business English Dictionary © Cambridge University Press)
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