Which term denotes a source of retirement income?

Which term denotes a source of retirement income?

• A. Education funds
• B. Bequests
• C. Retirement fund
• D. Debt Cancellation (as an alternative to estate liquidation)

Answer: (C)

A source of retirement income is created specifically to provide payments during retirement. A retirement fund is built to generate and sustain income in later years, helping cover living expenses after work ends. Education funds are set aside for future schooling costs, not ongoing retirement income. Bequests are assets left to others after death, not funds used to support living costs in retirement. Debt cancellation is about settling debts, not providing income. So the term that denotes a source of retirement income is retirement fund.

A source of retirement income is created specifically to provide payments during retirement. A retirement fund is built to generate and sustain income in later years, helping cover living expenses after work ends. Education funds are set aside for future schooling costs, not ongoing retirement income. Bequests are assets left to others after death, not funds used to support living costs in retirement. Debt cancellation is about settling debts, not providing income. So the term that denotes a source of retirement income is retirement fund.