As people develop through their lifetime they have an expectation that a time will come when they will be able to retire. For some people the State pension is sufficient to provide a basic level of income. Pension schemes can provide protection and pensions to dependants in the event of a member’s death.
In order to encourage pension schemes, the State provides tax relief on contributions made to pension schemes and the growth in their investments. The importance of funded pension systems is growing and the move away from `pay-as-you-go’ pension systems administered by the state. There are many different types of public sector pension plans, including single-employer plans, agent multiple-employer plans , and cost-sharing multiple-employer plans. Pension plans are serve as a means of financial stability and security after retirement.
Pension helps you to maintain a middle-class standard of living, and retirement savings provides important supplemental income for unforeseen expenses. pension plan puts you in a pretty good position. your pension may provide other benefits, such as disability protections. Punjab sarkaar is taking such outstanding steps for the growth of the state and its people. It has double the pensions of old people. The beautiful gift from Punjab government. To make their life comfortable and peaceful . And fulfill their desire needs so that they would not have to depend on others. They are the pillars of our nation. It’s our duty to take care of our elders. They provide us the air to live and to struggle for our future.