Buying A Pension -

: You contribute funds during your working years, and the payouts begin at a later date, usually after retirement.

: Unit-linked plans invest in market instruments (higher risk/return), while non-linked plans offer more stable, often guaranteed, benefits. 2. Buying an Annuity (Payout) buying a pension

"Buying a pension" typically refers to two distinct financial actions: (the accumulation phase) or purchasing an annuity (the payout phase). 1. Starting a Pension Plan (Accumulation) : You contribute funds during your working years,

This involves paying regular premiums or a lump sum to build a retirement "pot" over time. while non-linked plans offer more stable