A pension system is a way to save money throughout your working life so that you can have income after you retire. It helps you maintain your lifestyle and cover your expenses when you are no longer working. Full definition
I want a state pensions system fit for a 21st century welfare system, which is easy to understand and rewards those who do the right thing and save. (politics.co.uk)
Earlier pension systems in the country used to be provided only by employers i.e. private and public employers. (policybazaar.com)
However, the incentive structures of teacher pension systems are not widely understood, even though they can have powerful effects on the composition of our teaching force and on public finance. (educationnext.org)