Private Pension Schemes

Private pension schemes are retirement savings plans managed by private companies, separate from government programs. Individuals contribute money regularly during their working years, which is invested to grow over time. When they retire, they receive regular payments to support their living expenses. These schemes offer flexibility in contribution amounts and investment choices, allowing individuals to build a personalized retirement fund. They serve as an additional or alternative source of income beyond state pensions, helping people maintain financial security in retirement.