Retirement System

A retirement system is a structured program that provides income and benefits to individuals after they finish their active work years. It involves saving, investing, and managing funds during employment to ensure financial stability in retirement. Typically, it includes government programs (like Social Security), employer-sponsored plans (such as pensions or 401(k)s), and personal savings. The goal is to help people maintain their standard of living and cover essential expenses when they stop working, balancing contributions now with future benefits. Effective retirement systems are essential for financial security and societal well-being.