Private Pension
/ˈpraɪvət ˈpɛnʃən/
Definitions
- (n.) A retirement benefit plan sponsored by a private employer or individual, providing periodic payments after retirement.
She receives a steady income from her private pension after retiring from the company.
- (n.) A pension plan established and funded independently of any government social security program.
Unlike public pensions, private pensions are subject to specific contract terms and private regulation.
Forms
- private pension
- private pensions
Related terms
See also
Commentary
Private pensions are governed primarily by contract and labor law rather than statutory social security schemes; clear distinctions between private and public pensions are important for legal and tax treatment.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.