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What is the main purpose of pension schemes?
What is the main purpose of pension schemes?
- To generate wealth for the state
- To offer tax benefits to individuals
- To ensure a steady income for working people during their employment
- To provide benefits to members on retirement and other specified contingencies (correct)
How do pension schemes contribute to society?
How do pension schemes contribute to society?
- By encouraging early retirement
- By offering free healthcare services to retirees
- By providing guaranteed high returns on investments
- By protecting citizens against social risks and maintaining their standard of living after retirement or in case of contingencies (correct)
What is the main objective of state pension schemes?
What is the main objective of state pension schemes?
- To redistribute wealth between the poor and the better off to improve the overall welfare of society (correct)
- To provide exclusive benefits to high-income earners
- To encourage dependency on state funds
- To maximize profits for the government
What are single member pension schemes primarily set up for?
What are single member pension schemes primarily set up for?
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How are pension schemes commonly classified?
How are pension schemes commonly classified?
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