Understanding the Basics: Pension vs Retirement Plans
Planning for retirement is one of the most important financial decisions you can make. As life expectancy continues to increase and people live longer, having a clear strategy to secure your future becomes imperative. Two of the most common ways to ensure financial stability during retirement are pension and retirement plans. While both serve similar purposes, they are distinct in structure, benefits, and investment strategies. Understanding the differences between these two will help you make a well-informed decision that best suits your needs.