public pension funds

Public pension funds are financial pools managed by government entities to provide retirement income for public sector employees, such as teachers, police officers, and firefighters. These funds collect contributions from employees and often matching amounts from their government employers over the course of their careers. The accumulated assets are then invested to grow over time, ensuring there are enough resources to pay retirees when they leave work. Essentially, public pension funds are savings plans designed to secure the financial future of public workers after their service ends, funded through a combination of employee contributions, employer contributions, and investment earnings.