Pension savings
A pension is a long-term savings plan with tax relief. Getting tax relief on pensions means some of a person`s money that would have gone to the government as tax goes into their pension instead [Moneyhelper].
Pension savings means retirement or other benefits which are provided by a bona fide pension scheme and which provide an income for life, the money, including contributions for co-financing of the formation of pension savings received by the Federal Law 'On Additional Insurance Contributions for a Funded Pension and Governmental Support of Pension Savings Formation' and the money (part of the money) of a maternity (family) capital allocated for funded pension formation by the Federal Law 'On Additional Measures of Governmental Support for Families with Children,' which is owned by a fund, intended to be used by the fund to discharge its obligations to insured persons following mandatory pension insurance agreements, and accumulated following this Federal Law [Law Insider].
Why save into a pension? Moneyhelper. Retrieved from: https://www.moneyhelper.org.uk/en/pensions-and-retirement/pensions-basics/why-save-into-a-pension Pension savings definition. Law Insider. Retrieved from: https://www.lawinsider.com/dictionary/pension-