Review:
Pension Plans
overall review score: 4.5
⭐⭐⭐⭐⭐
score is between 0 and 5
Pension plans are retirement investment vehicles designed to provide individuals with a steady income during their retirement years.
Key Features
- Employer-sponsored
- Individual contributions
- Tax advantages
- Retirement income stream
Pros
- Provide financial security in retirement
- Tax advantages for contributors
- Can be employer-matched for additional savings
Cons
- Subject to market fluctuations
- May have limited investment options
- Potential for changes in plan terms