Retirement Beginner

Pension

💡 In plain English: A regular income in retirement, usually from a government scheme or employer — increasingly rare in the private sector.

Definition

A retirement income plan that provides regular payments, either defined benefit (fixed amount) or defined contribution (based on accumulated savings).

📌 Real-World Example

NPS (National Pension System) in India: contribute monthly, accumulate a corpus, buy an annuity at retirement that pays ₹X/month. Government employees get old-style pension; private sector employees mostly rely on NPS/EPF.

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Related Terms

Safe Withdrawal Rate (SWR)
The percentage of your portfolio you can withdraw each year...
Retirement Corpus
The total savings you need before you can stop working — big...
Annuity
A financial product that converts your lump-sum retirement savings...
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⚠️ Educational Content: All definitions and examples on this page are for educational and consultancy reference purposes only. They do not constitute financial, legal, or investment advice. Moneykar is not registered with SEBI, CBUAE, SCA, or any financial regulator. Consult a qualified professional before making financial decisions.

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