pension funds

a commercial or non-profit organization that accumulates the funds of contributors and participants with the provision of the latter within the agreed time frame and subject to certain conditions of pension payments. Pension payments can be for life, one-time, for a certain period. Formed at the expense of contributions from workers, employees, entrepreneurs; Before they are used for their intended purpose, they are placed in banks, in shares and other securities, the income from which is used to increase the pension fund.