|This article does not cite any sources. (October 2012) (Learn how and when to remove this template message)|
A private pension is a plan into which individuals contribute from their earnings, which then will pay them a private pension after retirement. It is an alternative to the state pension. Usually individuals invest funds into saving schemes or mutual funds, run by insurance companies. Often private pensions are also run by the employer and are called occupational pensions. The contributions into private pension schemes are usually tax-deductible. This is similar to the regular pension.
|This finance-related article is a stub. You can help Wikipedia by expanding it.|