Retirement planning is a crucial aspect of financial planning, as it ensures a sustained income stream during the golden years. Two of the most popular retirement income options are pensions and annuities. While both offer guaranteed income, they have significant structural, investment, and risk differences. What is a pension? A pension is a retirement plan typically offering a guaranteed income stream for life. It is usually funded by both the employer and employee during the employee’s working years. Upon retirement, employees begin receiving regular pension payments, which can be fixed…
Read MorePension vs. Annuity: Exploring Different Retirement Income Streams for gaining financial immunity
