What is Pension Scheme?

There are various pension plans. There are plans which are maintained by employers where the part of the employee's salary goes to a pension account. And there are individual plans where individuals save in the schemes of government or private banks to secure their financial future and protect them from any uncertainties that may arise post-retirement.

Amongst all the investment instruments, Pension scheme is particularly peculiar. Its name suggests that it has been devised to save for the retirement, which it is, but the important question is--can you trust pensions schemes (govt. or private) to build a handsome retirement corpus? Let's find out.

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