Difference between Pension Coordination and Social Security

Social security is usually what we call five insurance. Pension co-ordination is a part of the amount we pay for personal and unit pension insurance does not enter the personal account, but into a national designated account, when someone retires, the pension is to take money from the account of the country out to you, the country's large account is the social pension co-ordination fund. Whoever retires first uses the money in this account first. To put it bluntly, it is the money paid by the active employees to lend to the retirees for retirement.

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