Public Sector Retirement
Public sector retirement refers to the retirement benefits and plans available to employees working in government or public institutions. These benefits often include pensions, which provide a steady income after retirement, and may also include health insurance and other perks. The specifics can vary by location and job role, but they are generally designed to support employees after their years of service.
Many public sector employees are part of defined benefit plans, where retirement income is based on salary and years of service. This contrasts with defined contribution plans, like those commonly found in the private sector. Overall, public sector retirement aims to ensure financial security for employees after they leave the workforce.