Published on 01 December, 2015.
Pension is a fixed sum paid regularly to a person, typically following retirement from service. It is a regular payment made during a person’s retirement from an investment fund to which that person or the employer has contributed.
Pension is a type of retirement plan, usually tax exempt, wherein an employer makes contributions toward a pool of funds set aside for employees’ future benefit. The pool of funds is then invested on the employees’ behalf, allowing an employee to receive benefits upon retirement or disability.