pension schemes for private sector workers
Pension schemes for private sector workers refer to retirement plans established by employers in the private business sector to provide financial security and income for their employees after they retire from work. These schemes typically involve employees contributing a portion of their salaries, which is then combined with contributions made by their employers. The accumulated funds are invested to generate returns over time, ensuring a steady income stream for employees during their retirement years.
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Similar Concepts
- age-related pension schemes
- automatic enrollment in pension schemes
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- pension funds
- pension plans
- pension reforms
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