alt Hacker NewsThat seems the definition of pension. You may be thinking of something else.
pension
a regular income paid by a government or a financial organization to someone who no longer works, usually because of their age or healthThat seems the definition of pension. You may be thinking of something else.
pension
a regular income paid by a government or a financial organization to someone who no longer works, usually because of their age or health
The first line of the Wikipedia article on pensions is more accurate than wherever you’ve pulled that from:
> A pension (/ˈpɛnʃən/; from Latin pensiō 'payment') is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work.
A pension is a financial instrument. There’s no need to purchase an annuity, which means a pension organised correctly can be passed on to your children or spouse, and there’s no lottery or gamble angle.