Pension Insurance is a type of insurance designed to provide financial support during retirement. It ensures that individuals receive a steady income after they stop working, helping them maintain their standard of living. This insurance can be part of a broader retirement plan, which may include contributions from both employers and employees. Typically, Pension Insurance is funded through regular contributions made during a person's working life. These contributions are invested to grow over time, and upon retirement, the insured individual receives periodic payments. This system helps to secure financial stability for retirees, allowing them to enjoy their later years without financial stress.