public pension
State-funded retirement income
A public pension is a retirement benefit provided by a government to its former employees, such as teachers, police officers, firefighters, and civil servants.
These programs are funded through a combination of employee contributions and taxpayer money, with the government promising regular payments after retirement based on years of service and salary history.
She relied on her public pension after thirty years with the state.
Public pensions are often at the center of debates about government spending and fiscal sustainability.
- state-fundedPaid for by government
- social securityPublic financial protection programs
- safety netProtection against failure
- unfunded liabilitiesDebts without backing assets
- social insuranceGovernment-backed risk pooling
defined benefit · investment returns · nest egg · golden years · poverty alleviation · income redistribution · retirement age · cost of living adjustment · government employees · superannuation · vesting period · civil service
- retirement plans401k, IRA, Roth IRA, 403b, defined benefit
- social benefitssocial assistance, disability benefits, unemployment insurance, income support, retirement benefits
- pensionsCPP
public pensionprivate pension
Self-arranged retirement income
401(k) · individual retirement account · IRA · personal savings · Roth IRA
public pensionself-reliance
Depending on oneself alone
public, publicly, publics, publication, publish, publisher, publishing, published, republic