Pension System

A pension system is a structured program that provides income to people after they retire from work. Typically, workers and their employers contribute regular payments during the working years. These contributions are pooled and invested so that, when the worker retires, they receive regular payments or a lump sum, ensuring financial stability in retirement. Different countries and companies manage pension systems with varying rules, funding methods, and benefits. The goal is to support individuals financially once their earning years end, helping them maintain their standard of living and cover essential expenses in retirement.