Deferred Benefits

Deferred benefits are future financial advantages or entitlements that are earned now but are received at a later date. For example, a retirement plan where contributions are made during employment, but the payout is received after retiring. These benefits are often used in pensions and insurance plans, allowing individuals to accumulate value over time, which they can access later in life or upon certain conditions. Essentially, they are benefits that are "deferred" or postponed until a specified time, providing long-term financial security or rewards.