Pension
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A Pension is a benefit paid to people retired after their employment. Two major types of Pensions exist, Defined Benefit Plans, where the benefit (or payment) is known to the employee; and a Defined Contribution Plan, where the amount contributed to the plan (plus any income or gains) is known and used to fund the retirement. [[Social_Security{Social Security]] Plans can supplement the Pensions of individuals, in addition to other savings that a person may have to fund retirement living.