Pensions are paid by the state on a pay-as-you-go basis.
⇑ Translate the sentence above by Google ⇑
Related: pension
Prev: There is, to date, only the flimsiest of publicly-funded health care and pension systems, which increases incentives for individuals to save while they are working.
Next: The basic retirement pension will go up by £ 7.95 a week.
