Pensions in Pem

A pension is a fixed income in retirement, provided by or on behalf of an employer to a retired employee. It is funded through payments garnished from an employee's wage, which are then invested; the return on the investment is then redistributed to the employee in their retirement, at a pre-defined rate. Any additional profits from the investment return are retained by the employer.
The retirement income provided by the pension is proportional to their the length of their employment, or based upon their salary during employment at the company. The funds are usually held and invested by the employer, or by a third party facilitator.