Question: 3. . A pension is a recurrent payment, voluntary or contractual, made to an individual who no longer holds office or has retired from employment.

3. . A pension is a recurrent payment, voluntary or contractual,

3. . A pension is a recurrent payment, voluntary or contractual, made to an individual who no longer holds office or has retired from employment. Pensions are also sometimes paid by the government to retired civil servants. Pension schemes may be differentiated by the concept behind the method used to provide a retirement benefit. You are required to; a Classify and explain THREE (3) types of pension schemes. (6 marks) b. Propose any FIVE (5) strategies to overcome individual's retirement fund insufficiency (10 marks)

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