Which one of the following statement is correct?

A. Every Annuity is pension

B. Every Pension is an Annuity

C. Both A & B

D. None of the above

Answer: Option B

Solution(By Examveda Team)

Every Pension is an Annuity.
Pension scheme gives an opportunity to invest and accumulate savings and get lump sum amount as regular income through annuity plan on retirement.