Question

identify and explain the concept from the given illustration:
Ramesh started getting pension after retirement.​

Answer 1

Explanation:

In the given sentence, the concept of pension has been told. Pension is the concept where an employee which had served in an organization gets some monetary reward even after his retirement

Normally organisations offer pension to their employees. During the service, the employee and company both contribute in raising employee's pension fund and after the retirement the employee has either an option to get a certain amount from his pension fund or get all the amount at once. This is a handy amount for old aged people

Answer 2

The concept is of Pension.

• A pension is a fund into which an amount of cash is added during a representative's business years.
• In addition, they are added from which part payments are drawn to help the individual's retirement from work as occasional payments.
• It is a retirement reserve for a worker paid into by the corporation, representative, or both, with the corporation for the most part covering the biggest level of commitments.
• At the point when Ramesh must have resigned, he must have been paid in an annuity determined by the provisions of the benefits.