Define: Disability Pension

Disability Pension
Disability Pension
Quick Summary of Disability Pension

A disability pension is a financial benefit provided to individuals who are unable to work due to a disabling medical condition or injury. This type of pension is typically offered by government agencies or private employers as part of a disability insurance program or retirement plan. Eligibility for disability pensions usually requires medical documentation demonstrating the severity of the disability and its impact on the individual’s ability to work. Disability pensions may provide regular payments to help cover living expenses and medical costs, and they may be temporary or permanent depending on the nature and duration of the disability. The purpose of disability pensions is to provide financial support and assistance to individuals who are unable to support themselves due to a disabling condition, helping them maintain a basic standard of living and access necessary resources and services.

Full Definition Of Disability Pension

A pension paid out to a worker who has become disabled. This is usually paid at a normal retirement age.

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This glossary post was last updated: 29th March, 2024.

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