Which of the following is incorrect about superannuation plans:

In a defined benefit superannuation fund the employee bears the risk that the money paid to the pension fund each month while the employee is employed will accumulate to a sufficient sum to cover the defined benefits promised.

In a defined contribution superannuation fund the employer promises to pay over a specific amount per month (usually 9.5% of salary) to the pension fund on the employees behalf.

None of the answers.

Under the defined contribution fund the employees bear the risk of low or negative returns on the investment of plan assets because the benefits paid on retirement are a function of the level of contributions and the return achieved on plan assets.