State the correct statement out of these.

A. Every pension is a kind of annuity

B. Every annuity is also a pension

C. Pension and annuity are one and the same

D. Every pension is not an annuity

Answer: Option A

Solution(By Examveda Team)

Every pension is a kind of annuity. Annuity is a fixed sum that you get every year to provide for pension.