Individual retirement account and Pension account

Individual retirement account noun - A retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred.

Pension account and individual retirement account are semantically related. In some cases you can use "Pension account" instead a noun phrase "Individual retirement account".

Pension account noun - A plan for setting aside money to be spent after retirement.

Individual retirement account and pension account are semantically related. Sometimes you can replace phrase "Individual retirement account" with "Pension account", this phrases are similar.