What is another word for pension plan?
Pronunciation: [pˈɛnʃən plˈan] (IPA) 
A pension plan is a financial arrangement where an employer contributes money to a retirement fund on behalf of an employee. There are several synonyms for this term, including retirement plan, retirement fund, and annuity plan. A retirement plan is a type of savings plan that an individual invests in to provide income during their retirement years. A retirement fund is a type of investment account that an individual sets up, which typically includes stocks, bonds, and cash equivalents. An annuity plan is a type of pension plan in which an individual makes payments over time, and in return, receives regular payments during their retirement years. Regardless of the terminology used, the primary goal of a pension plan is to provide financial security during an individual's retirement years.
