Introduction
Generally, every organization has the obligation of ensuring that its employees are provided with a source of income when they are retired or when they are no longer in a stable condition to continue working. This benefit has been ensured through implementation of the pension plan. However in this article, the pension plan understanding is developed and brought out in such a way that it is not befuddled with the severance pay. This article develops the understanding of the retirement plan as the pension issued once an individual has retired. Tracing the retirement plans to the origin, these ...