Question

Social Security is considered what type of pension plan?

Answer 1

Social security is different from pension.Though some of the features are similar.Social security provides a monthly retirement benefit and it is not designed to provide monthly wage like pension but it supplements your other retirement incomes .    Social security is administered by Fed Goverment and is funded by tax.Whereas as pensions are generally given by the employer/pension company and are generally contributed by employer or your contribution or both