retirement provision
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retirement provision
All financial benefits and arrangements that serve to secure a person's livelihood in retirement. This includes the statutory pension as well as private or company pension provision.
Neben der gesetzlichen Rente ist eine private Altersversorgung heutzutage sehr wichtig.
Besides the statutory pension, private retirement provision is very important nowadays.
The word is made up of three parts: 'Alter' (old age), the linking '-s-', and 'Versorgung' (provision/care). So it literally means provision or financial security for old age.
Jeder sollte sich frühzeitig Gedanken über seine Altersversorgung machen.
Everyone should think about their retirement provision early on.
Common verbs used with this noun are 'sich um die Altersversorgung kümmern' (to take care of retirement provision), 'eine Altersversorgung aufbauen' (to build up retirement provision), or 'die Altersversorgung sichern' (to secure retirement provision).
Er hat eine betriebliche Altersversorgung abgeschlossen, um seine Rente aufzubessern.
He took out a company pension plan to top up his pension.
'Altersversorgung' (retirement provision) is a formal term mainly used in the areas of finance, insurance, law, and politics.
Die Regierung diskutiert über eine Reform der gesetzlichen Altersversorgung.
The government is discussing a reform of the statutory retirement provision system.
retirement provision
“Altersvorsorge” mainly refers to measures taken during one’s working life to prepare for the future. “Altersversorgung” encompasses the financial benefits and arrangements that secure a person’s livelihood in retirement. Therefore, use “Altersvorsorge” when focusing on active saving and “Altersversorgung” when focusing on security in retirement.
Im Ruhestand sichern Rente und Betriebsrente Ninas Altersversorgung.
In retirement, Nina’s pension and company pension provide her retirement income.
Während ihres Arbeitslebens zahlt Nina regelmäßig Geld in ihre private Altersvorsorge ein.
During her working life, Nina regularly paid money into her private retirement plan.
