A pension fund is a type of investment fund that collects and manages money to provide retirement benefits to employees. Employers and sometimes employees contribute to the fund over time, allowing it to grow through investments in stocks, bonds, and other assets. When employees retire, they receive regular payments from the fund, ensuring financial support during their retirement years. Pension funds are often managed by professional investment firms or financial institutions. They are designed to be a long-term savings solution, helping individuals maintain their standard of living after they stop working. This system is crucial for many workers, providing them with security and peace of mind in their later years.