Definition:

Accrued monthly benefit refers to that benefit which will paid to an employee in terms of pension at the time of regular retirement age .

Explanation:

Mainly, it is based upon the employee’s year of services which he gave to the firm through the accrual date and then it is paid to pension holders each month after retirement . Most of the pension plan can estimate the accrual monthly benefit employee will receive based on a number of different cut off dates .