The pension fund
Example: Pension fund manages savings to provide income after retirement
Definition
"The pension fund" refers to a pool of financial resources accumulated and managed to provide individuals with income after retirement. It collects contributions from employees and employers, invests them, and distributes payments to beneficiaries once they retire, ensuring financial security in later life.
Etymology
The term "the pension fund" combines 'pension,' derived from the Latin word 'pensio,' meaning 'payment' or 'allowance,' and 'fund,' originating from the Latin 'fundus,' meaning 'bottom' or 'foundation.' Together, they describe a foundational financial reserve intended to support payments after retirement.
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"The pension fund" appears in the Vocaplus list "English - Finance - (A1-C2) - set 1", containing 150 commonly used words.
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