contribution
kon-tri-BYOO-shun
/ˌkɒntrɪˈbjuːʃən/
A gift or payment to a common fund or treasury.
In retirement, this specifically refers to the money put into a fund by an employee or employer.
The story behind the word. From the Latin 'contribuere', which meant to bring together or unite. It shares a root with 'tribe'—originally meaning to distribute among the tribes.
Word relationships
- donation: Usually implies a charitable gift without expected personal return.
- input: More abstract; can refer to ideas or effort.
- withdrawal: Taking money out of a fund.
- deduction: Taking money away, often for taxes.
Commonly confused with
- premium: A premium is a payment for insurance coverage; a contribution is an investment into a fund.
Word family
- contribute (verb): To give something for a common purpose.
- contributor (noun): A person who contributes.
Collocations
- employer contribution
- voluntary contribution
- matching contribution
Idioms & expressions
- make a contribution
Example sentences
- "The employer matches every contribution up to five percent of the employee's salary." HR Policy
- "Voluntary contributions can significantly increase the final value of your retirement pot." Legal Document
Memory hook
You and your boss 'con' (together) 'tribute' (give) to your future self. Giving together for later.
When not to use
In a retirement context, don't confuse this with a 'distribution', which is money coming out.
Fun facts
- The word 'tribute' originally referred to a tax paid by a subject to a ruler.
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