False. Since women are more likely than men to be widowed in old age, women are more likely to receive private pensions to ensure a minimal income.
A pension plan run by an organization other than the government. Private pension plans can be managed directly by a private sector employer serving as the plan sponsor, a private pension fund, or a private sector provider. Public pension programs may be supplemented or replaced by private pension plans.
Even if you have other financial obligations like a mortgage or loan, for many people contributing to a workplace pension is a sensible idea. This is due to the possibility that your employer will make donations and the government will provide tax breaks. This cash can develop and accumulate over time.
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