pension system
Worker's future income
A pension system is an arrangement for providing regular income to people after they stop working, typically in retirement.
Such systems may be run by governments, employers, or private institutions.
Government pension systems collect contributions from workers during their careers and pay benefits later: Social Security is America's primary pension system.
The term often appears in policy discussions about aging populations and fiscal sustainability.
- contributionsThings given to help
- defined benefitPredetermined retirement payment arrangement
- social securityPublic financial protection programs
- safety netProtection against failure
- retireesPeople finished working permanently
pay-as-you-go · employers · investments · actuaries · replacement rate · demographic shifts · economic sustainability · asset allocation · tax incentives · policymakers · regulators · wealth distribution · check · unemployment benefits · fund · government agencies · poverty alleviation · disbursement
- SwedenStockholm, Gothenburg, Malmo, Uppsala, Scania
- ScandinaviaNorway, Sweden, Denmark, Finland, Iceland
- institutionsacademy, government, public hospitals, museum, public libraries
- nationalized sectorsrailways, postal service, national bank, national railway, public utilities
- Nordic EconomicsSwedish model, welfare state, social democracy, mixed economy, krone
- social welfaresocial welfare, welfare state, welfare checks, social insurance, welfare benefits
pension system401k
Employer-sponsored retirement savings
individual retirement account · IRA · personal savings · stock portfolio
pension systemself-reliance
Depending on oneself alone
no safety net · paycheck to paycheck · subsistence living · gig economy