Pension insurance is the name of a business, which refers to a business run by the state to provide insured persons with a source of livelihood after retirement.

After participating in the pension insurance, the insured must pay the pension insurance premium on schedule. After meeting the retirement conditions, they can enjoy the pension on a monthly basis. Pension is also called pension insurance benefits.

The pension insurance premiums paid by employees are retained in the country's social insurance agency to form a huge fund, called a pension insurance fund.