Question

This scheme was launched with the objective of providing long-term recurring financial assistance to the employee after retirement and to his family in case of premature death while in service

Options

• Group Insurance

• Gratuity

• Pension

• Provident Fund

Answer 1

Pension

Explanation:

The key phrase here is “recurring financial assistance”. Pension schemes are specifically designed to provide a continuous, regular income stream (annuity) to employees post-retirement or to their families, unlike Provident Funds or Gratuity, which are typically one-time lump-sum payouts.