pension insurance

Pension insurance is a type of financial protection designed to safeguard retirees' pension benefits in case their employer can no longer fulfill its pension obligations. It typically involves a government or private insurance system that steps in to ensure that retirees receive a portion or all of their promised pension payments. In the United States, for example, the Pension Benefit Guaranty Corporation (PBGC) provides this coverage for private-sector pensions, helping to maintain financial stability for individuals who depend on these retirement funds for their income after they stop working.