Old Age Revolving Pension Plan

The Old Age Revolving Pension Plan is a financial arrangement where individuals contribute regularly to a pension fund during their working years. Once they reach a certain age, they begin receiving a steady income or pension from the accumulated contributions and interest. The "revolving" aspect means the fund continues to operate and fund pensions for new retirees, ensuring a continuous cycle of support. This plan helps provide financial security for the elderly by systematically saving during working life, so they have income in retirement without solely depending on personal savings or government support.