Question

Item 3Item 3 Pension funds are monies put aside by corporations, nonprofit organizations, or unions to fund the financial needs of their employees, upon retirement.

Answer 1

Pension funds are contribution set aside by employers paid into a Pension Fund Administration (PFA) company for the purpose of retirement.

Step-by-step explanation:

Pension funds are monies credited into the Individual Retirement Savings (IRS) Account by the employer, with a focus on providing financial comfort to the employees at retirement.