Pension
年金 ／ pension — Institutions
A system for receiving a fixed amount of money periodically in old age or in case of disability. There are public and private pensions.
Assignat of 50 sols 1793 A photograph of what this word names. Public pensions are a national system, while private pensions are a system funded by individuals or their employers. ⚠ The amount stated in notifications is the nominal value. Without looking at the real value, adjusted for inflation, one cannot understand the true cost of living.
Related terms Public pension nominal real value Funded system Pay-as-you-go system
Terms explained using this word Insurance premium Nenkin Teiki Bin Deferral
Courses where this word appears A06 Tracing the Era of the Gold Standard B19 Connecting Cash, Deposits, and the Central Bank P2 Deciphering Amounts, Percentages, and Statements P3 Household Finances, Housing, and Retirement Funds P4 How Banks, Interest Rates, and Prices Work P5 How Taxes, Pensions, and Social Insurance Work P9 Finding Financial Information and Advice
Columns on this topic The Promise of a Pension Received by a King
Scenes where this word appears United States The cross of gold South Africa and the Klondike France Louis XI and the sinews of the state The Burgundian frontier supply lines, and the country outside Nancy France The Fronde and the cardinal's purse Paris, the office of finance France The paper they printed too much of A street corner, Paris Netherlands The Scheldt was closed An emptied merchant house, Antwerp Italy The AM-lira A bread queue India The right to collect taxes is transferred Before the Emperor India The cost of rule is paid by the ruled London and Calcutta and 2 more chapters
← Back to the money dictionary
Assignat of 50 sols1793