State pension schemes

State pension schemes are government-run programs that provide financial support to individuals during retirement. Workers contribute a portion of their income to the scheme throughout their careers, and in return, they receive regular payments after reaching retirement age. These payments help ensure that retired individuals have a basic level of income to cover living expenses. The specifics, such as eligibility and payment amounts, can vary by country, but the overall goal is to provide a safety net for citizens when they are no longer able to work.