Sec B

1.		A pension is a recurrent payment, voluntary or contractual, made to an individual who no longer holds office or has retired from employment. The receiver of the pension payment could be the retiree, his wife or child, or any other relative or dependant of the pensioner. The stream of payments could be made by the employer or by the successor of the employer, or by arrangement by an insurance company or by the trustee of a provident fund. 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.		Elaborate TWO (2) types of pension schemes available. (10 marks)
	b.		Suggest FIVE (5) strategies to combat an individuals retirement fund insufficiency. (10 marks)