Pensions and social welfare

Pensions and social welfare are systems designed to support individuals' financial stability, especially during retirement or difficult times. Pensions are regular payments made to retirees after working for many years, funded by their or their employer's contributions. Social welfare includes government programs that provide aid to those in need, such as unemployment benefits, disability payments, or assistance for low-income families. Both aim to ensure basic living standards, reduce poverty, and promote social security. They are essential tools for maintaining economic stability and preventing hardship across different stages of life.