Pension Policies

Pension policies are financial plans that provide income to individuals during retirement. They are designed to ensure that people have enough money to live on after they stop working. These policies can be funded through contributions made by the employee, employer, or both over the years. The funds grow over time, typically through investments, and are paid out as regular income once the individual reaches retirement age. Different types of pension plans exist, including defined benefit plans, which guarantee a certain payout, and defined contribution plans, which depend on investment performance.