The timing of payments of contributions with the aim of meeting the cost of a given set of benefits under a defined benefit scheme.
Possible objectives of a funding plan might be that, if the actuarial assumptions are borne out:
a) a specified funding level should be reached by a given date;
b) the level of contributions should remain constant, or should after a planned period be the standard contribution rate required by the valuation method used in the actuarial valuation.