Workers' Pension Plan

A Workers' Pension Plan is a retirement savings program offered by employers to help employees prepare financially for retirement. It usually involves regular contributions from both the employer and the employee during their working years. The funds accumulate over time, often invested to grow. When employees retire, they receive regular payments from the plan, which can provide a stable income. These plans can be defined benefit (promising a specific payout) or defined contribution (based on contributions and investment performance). Essentially, it's a way to ensure financial security in retirement.