Cardiology

Low fitness, obesity linked to later disability pension

(HealthDay)—Among men, low cardiorespiratory fitness and obesity in adolescence are associated with an increased risk for later receipt of a disability pension, according to a study published online Feb. 12 in the Annals ...

Psychology & Psychiatry

Pension plan improving mental health in China

A new social pension program in rural China isn't just providing older adults with more financial security, Yale School of Public Health researchers say, it's also improving their mental health.

Health

More hospital doctors are opting to retire early

Hospital doctors in England and Wales are increasingly choosing to take early retirement, figures released to The BMJ by the NHS Business Services Authority in response to a freedom of information request show.

Health

In aging, one size does not fit all

Conventional measures of age usually define people as 'old' at one chronological age, often 65. In many countries around the world, age 65 is used as a cutoff for everything from pension age to health care systems, as the ...

Health

Australia pension fund reviewing tobacco stake

The Australian government's pension fund for public servants said Thursday it was reviewing its investment in tobacco shares following the passage of plain packaging laws in a bid to curb smoking.

Pension

In general, a pension is an arrangement to provide people with an income when they are no longer earning a regular income from employment. Pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum.

The terms retirement plan or superannuation refer to a pension granted upon retirement. Retirement plans may be set up by employers, insurance companies, the government or other institutions such as employer associations or trade unions. Called retirement plans in the United States, they are commonly known as pension schemes in the United Kingdom and Ireland and superannuation plans or super in Australia and New Zealand. Retirement pensions are typically in the form of a guaranteed life annuity, thus insuring against the risk of longevity.

A pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension. Labor unions, the government, or other organizations may also fund pensions. Occupational pensions are a form of deferred compensation, usually advantageous to employee and employer for tax reasons. Many pensions also contain an additional insurance aspect, since they often will pay benefits to survivors or disabled beneficiaries. Other vehicles (certain lottery payouts, for example, or an annuity) may provide a similar stream of payments.

The common use of the term pension is to describe the payments a person receives upon retirement, usually under pre-determined legal and/or contractual terms. A recipient of a retirement pension is known as a pensioner or retiree.

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