Or maybe for clarity consider the word "pensioner"
Is it still a "pension" when contributions are made your whole life and it crashes to 0 and you never make a withdraw?
Most people call defined contribution plans "retirement savings" plans and defined benefit "pensions". While conceptually at a high level they are the same thing, the difference is in who bears the risk when the plan is underfunded. In the first the risk is entirely born by the individual which frequently doesn't have any choice in the investment companies much less the investments. The latter the risk is squarely on the shoulders of a larger organization, be that a company or as the last resort the government. Aka the risk is socialized/insured.
