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Introduction to Pension Schemes Quiz

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What is the main purpose of pension schemes?

To provide benefits to members on retirement and other specified contingencies (correct)

To provide insurance policies for working people

To redistribute wealth between the poor and the better off

To accumulate wealth for individuals

What is the objective of state pension schemes?

To redistribute wealth between the poor and the better off (correct)

To provide protection for citizens against social risks

To secure working people in case of a loss of income

To accumulate wealth for individuals

How are single member pension schemes set up?

Employers contribute to a fund for their employees' retirement benefits

Pension funds are managed collectively by working people

The government provides financial support for retirees

Individuals buy specific insurance policies to accumulate their account for retirement income (correct)

What do pension schemes aim to protect working people against?

Loss of income due to contingencies like retirement, death, or incapacity Signup and view all the answers

What are the three main types of pension schemes according to coverage?

Single member schemes, occupational schemes, and personal retirement plans Signup and view all the answers

What is the main purpose of pension schemes?

To provide benefits to members on retirement and other specified contingencies Signup and view all the answers

What do state pension schemes aim to achieve?

Redistribute wealth between the poor and the better off to improve society's welfare Signup and view all the answers

What are the types of contingencies for which pension schemes provide benefits?

Retirement, death, or incapacity Signup and view all the answers

What is the purpose of single member pension schemes?

Accumulate an individual’s account for an adequate income after retirement Signup and view all the answers

What is the primary objective of pension schemes according to Booth et al. (2005)?

To classify pension schemes based on coverage, benefits, and contributions Signup and view all the answers

Introduction to Pension Schemes Quiz

Choose a study mode

Podcast

Questions and Answers

What is the main purpose of pension schemes?

What is the objective of state pension schemes?

How are single member pension schemes set up?

What do pension schemes aim to protect working people against?

What are the three main types of pension schemes according to coverage?

What is the main purpose of pension schemes?

What do state pension schemes aim to achieve?

What are the types of contingencies for which pension schemes provide benefits?

What is the purpose of single member pension schemes?

What is the primary objective of pension schemes according to Booth et al. (2005)?

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